Chelsea sets IPO price at P10.68
“At such price, the book will be sufficiently covered and the shares of Chelsea Logistics will have a lot of room for upside in the equities market,” BDO Capital president Eduardo Francisco said. Philstar.com/File
MANILA, Philippines - Chelsea Logistics Holdings Corp. (CLC) of businessman Dennis Uy has set the offer price for its initial public offering (IPO) at P10.68 per share.
“At such price, the book will be sufficiently covered and the shares of Chelsea Logistics will have a lot of room for upside in the equities market,” BDO Capital president Eduardo Francisco said.
“The shipping and logistics industry plays a vital role in boosting trade and commerce within the Philippines and among countries. That makes Chelsea Logistics a sound and fulfilling investment,” Francisco added.
CLC registered 546.593 millon new common shares with the Securities and Exchange Commission for the IPO. The offer shares will account for 30 percent of the 1.82 million outstanding common shares of the company.
The company has set the offer period on July 24 to 31 in time for the listing and commencement of the trading of the company’s shares on the main board of the Philippine Stock Exchange on Aug. 8.
Francisco said CLC has received strong interest from institutional investors and continues to attract more.
- Latest
- Trending
