MONEY: CEBU PACIFIC IPO POSTPONED

Yes, you heard it right! The much anticipated Initial Public Offering (IPO) of Gokongwei-owned low cost airline company is currently postponed pending results of the May 2010 election.

In a letter to the Philippine Stock Exchange dated March 30, 2010, the airline company said they have “taken the view that, despite strong interest in the IPO at this time, it is in the better interests of the stakeholders to pursue the listing after the coming elections.”

Cebu Pacific listing to the PSE bourse was originally scheduled May 3.It is offering as much as 25.7 Billion worth of shares at a maximum price of 95 pesos.

Disappointed?

Many stock traders might’ve been disappointed with this latest news but Cebu Pacific is making a conservative move due to the volatility of the market after election. Anyway, if the election turns out to be peaceful, Cebu Pacific will soon schedule a new IPO date.

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