BLOGGED PHILIPPINES

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.

Have you heard the latest news on Cebu Pacific? It’s not about their latest promo of cheap air fares. It was all about Cebu Pacific’s Initial Public Offering (IPO) Cebu Pacific’s IPO Cebu Pacific is planning to offer 125.25 Million stocks worth 12 Billion pesos. It means that the price per stock is around 95 pesos. Although they will be listed on the local stock market, the company targets institutional and international investors for their initial offering. The company originally planned the IPO in 2008 but postponed it due to the global economic crisis that occurred on the 4th quarter of that year. They said that the funds will be used to further their expansion in the ever growing market of air travel. The company has not yet revealed the exact date of their initial offering. Cebu Pacific has been gaining strength in the previous years, beating their rival Philippine Airlines (PAL) in the domestic market. It also trimmed the market share of shipping industries by ...