PSE approves two initial public offerings

May 10, 2017

The board of directors of The Philippine Stock Exchange, Inc. (PSE) approved the initial public offering application of cement maker Eagle Cement Corp. and property developer, Cebu Landmasters, Inc. Eagle Cement will be offering 500 million primary shares at a maximum price of P16.00 per share. Cebu Landmasters will be offering a total of 505 million shares, both primary and secondary shares, at a maximum price of P6.56 per share. The price setting dates of Eagle Cement and Cebu Landmasters are on May 11 and May 12, respectively, the exchange said in a statement on Wednesday. The scheduled offer period of Eagle Cement is from May 16 to 22 while Cebu Landmasters will hold its offering from May 19 to 26. “We commend both companies for successfully complying with PSE’s IPO requisites thereby enabling them to tap the stock market for their capital requirements. We encourage more companies to do the same,” said new PSE President and CEO Ramon  Monzon. “We are hopeful that these IPOs will be met with keen interest by big and small investors alike. The Local Small Investor component of IPOs provides small investors the chance to participate in these investment opportunities,” Monzon added. DMS