Philippine Stock Exchange approves Cebu Pacific IPO

Philippine Stock Exchange (PSE) announced (16-Sep-2010) they have approved Cebu Pacific's IPO. The carrier plans to hold the domestic offer on 12-Oct-2010 to 19-Oct-2010, with a tentative listing date set for 25-Oct-2010. The carrier will now hold a domestic roadshow on 24-Sep-2010 and international roadshow and bookbuilding on 27-Sep-2010. CEB plans to offer 186.6 million common shares at a price of no more than PHP150.00 per share. It also has an overallotment option of up to 28 million shares. The carrier plans to distribute 70% of the shares to international investors, with the remainder to be sold to domestic investors. [more]