RSA’s Eagle Cement mulls stock market listing
Bilyonaryo Ramon S. Ang?s Eagle Cement Corp. is mulling an initial public offering to raise at least P9 billion.
The Philippine Star reported that the company had filed its IPO application with the Securities and Exchange Commission and appointed SB Capital Investment Corp, China Bank Capital Corp. and PNB Capital & Investment Corp. as lead underwriters for the offering.
Eagle Cement is looking to sell its shares at a maximum price of P16 each.
Proceeds from the IPO will be used to fund the company’s expansion amid ramped up state spending on infrastructure.