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29-Jun-2010 10:53 AM

Cebu Air parent company has no date for IPO

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.