BDO Capital and Investments Corp. president Eduardo Francisco said in a text message that at P10.68 per share, the offering would be sufficiently covered and would provide investors an upside for growth. “We have convinced Mr. Uy to give an upside and to ensure the success of the IPO,” Francisco said. CLC will sell 546.593 million new common shares during the offer period on July 24 to 31. The shares, which represent 30 percent of the company’s outstanding common shares, will be listed with the Philippine Stock Exchange on Aug. 8 under the ticker symbol “CLC”. “Chelsea Logistics has received strong interest from institutional investors and continues to attract more, as it proceeds with its initial public offer of common shares,” Francisco said.

Source: The Standard July 20, 2017 13:18 UTC