Cebu Pacific defers IPO offering until after May polls

By Doris Dumlao
Philippine Daily Inquirer

MANILA, Philippines—The Gokongweis’ budget carrier operator Cebu Air Inc. has deferred an initial public offering worth as much as P25.7 billion, originally scheduled this April, until after the May presidential elections.

The airline "has taken the view that, despite strong interest in the IPO at this time, it is in the better interests of the stakeholders to pursue the listing after the coming elections," Cebu Air said a letter dated March 30 to the PSE.

Earlier approved by the PSE for offering by Cebu Air to the public at a target price not exceeding P95 per share are 125.25 million primary shares and up to 110.31 million secondary shares. The offering can be upsized by up to 35.33 million in case of strong demand. Read more...