SUMMARY
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The Gokongwei group is looking to raise up to P40 billion from the initial public offering (IPO) of shares of its retail business. Robinsons Retail plans to sell up to 461.9 million shares at P86.64 each, according to IFR, a Thomson Reuters publication. Deutsche Bank, JPMorgan and UBS were tapped to manage the IPO, said the report. If the IPO pushes through, Robinsons Retail will be the 5th Gokongwei-owned company to be listed on the Philippine Stock Exchange.
Read the full story on Rappler.
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