EA­GLE CE­MENT’S IPO WELL RE­CEIVED

Cebu Daily News - - EN­TER­PRISE -

Ce­ment-maker Ea­gle Ce­ment Corp. has seen brisk de­mand for its P8.62-bil­lion ini­tial pub­lic of­fer­ing (IPO), its un­der­writ­ers said.

Fol­low­ing Ea­gle’s in­vestors’ brief­ing on May 15, IPO joint lead un­der­writ­ers China Bank Cap­i­tal Corp., Philip­pine Na­tional Bank Cap­i­tal and In­vest­ment Corp. and SB Cap­i­tal In­vest­ment Corp. re­ported “en­cour­ag­ing” re­cep­tion from both in­sti­tu­tional and re­tail in­vestors, cit­ing ap­pre­ci­a­tion for the com­pany’s “pro­duc­tion ef­fi­ciency, strong brand eq­uity, and sound fi­nan­cials.”

Ea­gle priced the IPO at P15 per share. It will sell 500 mil­lion com­mon shares by way of pri­mary of­fer with an over­al­lot­ment op­tion of up to 75 mil­lion sec­ondary shares.

The of­fer pe­riod ends on May 22. To be traded un­der the ticker sym­bol “EA­GLE”, the com­pany tar­gets to be listed on the main board of the Philip­pine Stock Ex­change on May 29./

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