<article>Philippine-based construction company <a style="color: #000080;" href="http://www.datem.com.ph">Datem Inc</a> has deferred its proposed $100-million (P4.65 billion) initial public offering (IPO) citing &#8220;uncertainty in the capital markets.&#8221;</article>

Philippine-based construction company <a style="color: #000080;" href="http://www.datem.com.ph">Datem Inc</a> has deferred its proposed $100-million (P4.65 billion) initial public offering (IPO) citing &#8220;uncertainty in the capital markets.&#8221;
The company announced its IPO plan last August to raise fresh capital that will fund its housing, construction, and water ventures.
&#8220;The company’s decision to defer and adjust the timetable for the IPO is primarily due to the uncertainty in the capital markets prevailing at the time of pricing,&#8221; Datem said, in its statement.
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&#8220;The company recognises that pursuing the transaction under such an abstruse investment environment may not be beneficial to the company, the investing public, and the Philippine capital markets as a whole,&#8221; it added.
Datem&#8217;s plan was to sell up to 329.046 million primary and secondary shares priced at P14.15 apiece. Its share sale was scheduled to run from November 16 to 24.
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Datem’s plans to allocate a part of the proceeds from the IPO, to its real estate subsidiary Datem Homes, includes land banking activities and construction-related costs.
The company even hoped to spend around P356 million for its water ventures through its subsidiary Datem Water Inc which does business in the supply and treatment of bulk water.
Datem&#8217;s listing was expected to take place this coming November 27.
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Philippine-based construction company Datem Inc declined to push through with its planned $100 million (P4.65 billion) initial public offering (IPO) reasoning out "uncertainty in the capital markets."

Philippines construction firm Datem defers $100m IPO due to market conditions

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Philippines construction firm Datem defers $100m IPO due to market conditions

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