Philippines: DM Wenceslao gets SEC nod for $460m IPO, tipped to be largest issue in 2015

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.

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