Shell’s plans to sell as much as P29.7billion worth of shares on the Philippine Stock Exchange would be a landmark initial public offering (IPO) for the region.
The sell-off is penciled in for October.
The Pilipinas Shell Petroleum IPO will run from Wednesday, October 19 to 25 after the price setting on Thursday, October 13.
The firm is on the crest of its hotly awaited stock market debut. It plans to auction off 330 million primary and secondary shares to the public for as much as P90 per share. If it completes the order, the offering will officially be the Philippine Stock Exchange’s biggest debut.
Previous record holders and top offerings include retailer Robinsons Retail Holdings at P28.1billion in 2013, SM Investments Corp at P26.25billion in 2005 and Cemex Holdings Philippines at P25.1billion in 2016.
The company will appear under the ticker SHLPH. At the maximum IPO price, the company will have a market capitalization of P151.52 billion.
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