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MANILA, Philippines – The board of the Philippine Stock Exchange (PSE) on Wednesday, May 10, approved the initial public offering (IPO) applications of cement maker Eagle Cement Corporation and property developer Cebu Landmasters Incorporated.
Eagle Cement will be offering 500 million primary shares at a maximum price of P16.00 per share.
Cebu Landmasters, meanwhile, will be offering a total of 505 million shares, both primary and secondary shares, at a maximum price of P6.56 per share.
The price setting date for Eagle Cement is Thursday, May 11, while it will be Friday, May 12, for Cebu Landmasters.
The scheduled offer period of Eagle Cement is from May 16 to 22, while Cebu Landmasters will hold its offering from May 19 to 26.
“We commend both companies for successfully complying with PSE’s IPO requisites thereby enabling them to tap the stock market for their capital requirements. We encourage more companies to do the same,” said new PSE president Ramon Monzon in a statement on Wednesday.
“We are hopeful that these IPOs will be met with keen interest by big and small investors alike. The Local Small Investor component of IPOs provides small investors the chance to participate in these investment opportunities,” he added. – Rappler.com
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