DM Wenceslao and Associates Inc, a top construction firm in the Philippines, has received the approval of the Securities and Exchange Commission (SEC) for its Initial Public Offering (IPO) worth $460.3m million (P21.7 billion).
The SEC approved DM Wenceslao’s IPO plan to sell 429.17 million primary common shares priced up to P44 per share, to raise fresh capital of P18.88 billion.
