Monday 17 December
Jun 11, 2018 @ 19:14

DM Wencelao prices IPO at P12 a share, low end of price range


D.M. Wenceslao and Associates Inc. is set to raise P8.15 billion from its maiden offering of shares next week after pricing near the bottom of its indicative range.

The initial public offering was priced at P12 a share, – the low end of what investors expected ? showing subdued investor reaction toward the construction firm.

D.M. Wenceslao, the master developer of Aseana City in Manila Bay area, had marketed its IPO at P12 to P16 each share

The IPO involves 679.2 million new shares, representing 20 percent of the company.

The local stock market has already lost about 10 percent this year amid concerns on a weakening peso and rising domestic inflation.

D.M. Wenceslao is set to start trading on the stock exchange on June 29 following its offering from June 18 to 22.

Proceeds from the offering will be used to fund projects and beef up land bank.

Please follow and like us:

Tags: , , ,

Related Stories
Telecoms giant and technology investor SoftBank Group aims to raise over $23 billion by listing
Telecoms giant SoftBank will list shares in its Japanese mobile unit next month in a
Aston Martin, the luxury British sports car brand driven by fictional spy James Bond, said
Cal-Comp Technology (Philippines) Inc., a member of global technology conglomerate New Kinpo Group (NKG), plans


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.