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Cebu Air parent company has no date for IPO

29-Jun-2010 10:53 AM

JG Summit President, Lance Gokongwei, stated no specific date had been decided for Cebu Pacific's USD554 million initial public offering (Reuters, 28-Jun-2010). The carrier announced in Mar-2010 it had deferred its planned IPO until after the 10-May-2010 national elections, but JG Summit said on 26-May-2010 it was not a good time to push ahead with the share sale, adding it would not affect expansion plans for Cebu Pacific.