Cebu Air sells more IPO shares | The Philippine Star News Business

By Zinnia dela Peña
Cebu Air, the operator of budget carrier Cebu Pacific, has decided to exercise the greenshoe option to raise additional funds to support its massive refleeting program.| The Philippine Star News Business

Cebu Air shares gain 6.4% in market debut | The Philippine Star News Business

By Zinnia B. Dela Peña
Cebu Air, the corporate entity behind the Cebu Pacific airline closed 6.4 percent higher on its trading debut yesterday, completing yet another milestone in its history with the holding of the world’s biggest initial public offering (IPO) by a low-cost carrier.| The Philippine Star News Business

Business - Cebu Pacific IPO priced at P125 per share - INQUIRER.net

Business - By Doris Dumlao
The Gokongwei-led budget carrier operator Cebu Air Inc. has finalized its initial public offering, the first in the Philippine Stock Exchange this year, at a price of P125 per share. - INQUIRER.net

Cebu Pacific kicks off share sale with domestic roadshow next week | The Philippine Star News Business

By Zinnia B. Dela Peña No-frills budget carrier Cebu Pacific, the airline brand of Gokongwei-owned Cebu Air will start the maiden sale of up to P32.2 billion worth of shares with a domestic roadshow scheduled next Friday (Sept. 24).

Cebu Air IPO to take off in October | The Philippine Star News Business

Cebu Air IPO to take off in October The Philippine Star News Business

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...

PSE approves listing of Cebu Air on May 3

By JAMES A. LOYOLA
www.mb.com.ph 

The Philippine Stock Exchange (PSE) has approved the listing application of Cebu Air Inc., the airline unit of JG Summit Holdings (operating under the brand Cebu Pacific Air), set for May 3, 2010 after a planned initial public offering of shares worth a maximum of P25.73 billion.

According to the PSE, Cebu Air is listing up to 728.22 million common shares of which 582.57 million are outstanding prior to the IPO while 125,25 million will be issued during the IPO and 20.4 million will be sold to the company’s executives and employees.

Cebu Air is planning an IPO consisting of 125.25 million new shares while current shareholder CPAir Holdings is selling 110.31 million shares plus 35.33 million shares under an over-allotment option.

The airline said 164.89 million shares will be sold overseas outside of the United States, 47.11 million shares are being sold through brokers of the PSE while 25.56 million shares have been allocated for local small investors.

Cebu Air has given an indicative price of P95 per share although the actual offer price will not be set until April 16, 2010 after a domestic roadshow on April 5, an international roadshow and bookbuilding process from April 6 to April 16.

The IPO will start with the sale of shares via trading participants of the PSE which are to submit commitments from April 19 to April 22 with the domestic offer ending on April 26, 2010.

The airline has tapped Deutsche Bank AG, Hong Kong Branch and J.P. Morgan (S.E.A) Limited to be the international lead underwriters for the issue while ATR KimEng Capital Partners is the domestic lead underwriter. Read more... 

Cebu Pacific to use IPO funds to buy 20 planes

E. N. J. David and N. J. C. Morales

BusinessWorld 

GOKONGWEI-LED Cebu Air, Inc. will use the bulk of funds to be raised from a planned initial public offering (IPO) to buy up to 20 more aircraft within five years, an executive of the budget airline’s parent said yesterday.

Cebu Air, which operates as Cebu Pacific, has yet to set the date for the IPO, which will raise P12 billion, but had secured clearance from regulators.

“It’s going to be for capital expenditures for purchasing airplanes. We have a purchase order from Airbus for 15 Airbus A320 in the period of 2010-2015 and an option to buy five more,” said Bach Johann M. Sebastian, senior vice-president for corporate planning of listed JG Summit Holdings Philippines, Inc.

Documents showed the carrier needed to make P9 billion in advanced payments to increase its fleet to 49 by 2014.

Mr. Sebastian however said going public was only one option, and that funds could also be raised through loans from export credit agencies.

Cebu Pacific can also tap the lease market, he said.

The airline is planning to list 125.3 million new common shares with a par value of P1.00 each, which would be offered to the public at a maximum price of P95.00 apiece. A total of 110.3 million secondary shares will be listed at the same price. Read more...

Cebu Pacific Names Banks For H1 IPO

Philippine discount airline Cebu Pacific is rumored to have mandated Deutsche and JP Morgan on its IPO. UBS originally held the mandate and tried to bring the deal to market in 2008. The offering is now expected to launch in late March or early April, with a deal size of US$200m–$250m, although details are yet to be finalised.

Source: ifrasia