Philippines: Property firm Italpinas raises $4.4m in IPO debut, targets BPO, tourism sectors

Green energy property company Italpinas Development Corp raised $4.4 million (P207.5 million) at its debut in the Philippine Stock Exchange on Monday and revealed plans of venturing into office development and tourism related projects.

Italpinas opened at P5.40 per share, which was 50 per cent higher than its initial public offering price of P3.60 apiece.

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