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Cebu Pacific postpones IPO plan; but expansion not affected

Cebu Pacific President, Lance Gokongwei, stated the airline is unlikely to pursue its planned USD328 million IPO this year, given continued difficult equity market conditions. However, Mr Gokongwei stressed that the airline’s funding requirements are easily covered by various other financing options even without the IPO proceeds. He added the airline’s expansion programme would not be affected by the decision.

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