DM Wenceslao IPO cleared by SEC
The Securities and Exchange Commission has approved the planned P15.5 billion initial public offering of construction firm DM Wenceslao & Associates Inc.
DM Wenceslao has been cleared to sell 679.2 million common shares at P22.90 each share. This includes an over allotment option of 101.88 million more shares in case of strong demand.
Net proceeds from the offering will be used to fund the development of commercial and residential projects.
The IPO has been tentatively scheduled on June 18 to June 22. Listing of the shares has been set on June 29.
BPI Capital and Maybank are the joint global coordinators and bookrunners for the IPO.