Cebu Pacific flies high in IPO; offering is largest global LCC IPO
Philippines’ largest domestic carrier, Cebu Pacific, raised over USD500 million in its IPO as the carrier’s shares made their debut in late Oct-2010 on the surging Manila stock exchange. According to Bloomberg data, Cebu Pacific's fund raising exceeded initial levels achieved by other LCCs including Southwest Airlines (USD7.2 million), Ryanair (USD159.6 million), AirAsia (USD220.3 million) and, more recently, Tiger Airways (USD175.9 million). [1717 words]
Unlock the following content in this report:
- Investing in LCCs is still risky business
- Cebu Pacific raises USD539 million
- Largest IPO in Philippines in USD terms
- To fund debt repayments and fleet growth
- Cebu Pacific – Philippines’ largest carrier
- Cebu Pacific to invest in Philippines airports?
- Reference Sheet: Details of LCCs conducting IPOs
Graphs and data:
- Selected LCC price movements (% change): First day close vs 01-Nov-2010 (See table at end of report for more information)
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