SBS Philippines raises $22m from IPO, shares soar nearly 50% on debut

SBS Philippines raises $22m from IPO, shares soar nearly 50% on debut

SBS Philippines Corp, a major chemical trader-distributor firm, has raised $22 million (P1.15 billion) from its initial public offering (IPO), and the company’s shares soared nearly 50 per cent on its debut Monday, hitting the maximum ceiling price to close at P4.12 each.

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