Wil­con eyes 7b peso from list­ing ex­er­cise

New Straits Times - - Business -

MANILA: Wil­con De­pot Inc, a Philip­pine con­struc­tion ma­te­ri­als re­tailer, is set to raise seven bil­lion pe­sos (RM618.9 mil­lion) in the na­tion’s first list­ing this year. Wil­con is aim­ing to ride on Pres­i­dent Ro­drigo Duterte’s pledge to raise spend­ing on in­fra­struc­ture to help lift the coun­try’s eco­nomic growth tra­jec­tory. It priced its IPO at 5.05 pe­sos per share, to al­low po­ten­tial post-IPO up­side, said Ed­uardo Fran­cisco, pres­i­dent of un­der­writer BDO Cap­i­tal and In­vest­ment Corp, in a mo­bile text mes­sage.

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