Philippines: Cement firm opens IPO to local small investors

Byszheng

Updated Fri, 08 Jul 2016 13:45:49 GMT

The Philippine Stock Exchange has allowed the subscription of local small investors to the IPO (initial public offering) shares of Cemex Holdings Philippines Inc. which is debuting on the stock market on July 18. "The company, which will use the stock symbol 'CHP', will be offering 203,298,100 offer shares to local small investors (LSI) at Php10.75 per share beginning July 4, 2016," PSE said in a memorandum yesterday. In Cebu City, receiving centers for the subscription are in BDO branches in Cebu Business Park and Gorordo. The offering runs from July 4 to 11. Cemex's listing on the PSE is targeted on July 18. The IPO of Cemex, a cement manufacturer, at P25.1 billion is considered the third largest conducted in the PSE to date. Cemex will offer 2.03 primary shares to the public with an over-allotment option of 304.95 million shares. BDO Capital is the underwriter of Cemex's offering. The offering of Cemex shares to local small investors is part of the retail investor program of the PSE. The LSI program requires the issuer to allocate 10 percent of its offered shares to retail investors.