EAGLE CEMENT’S IPO WELL RECEIVED
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./