Energy chief welcomes SEC okay of Shell’s IPOThe Department of Energy (DOE), which has long been prodding Pilipinas Shell Petroleum Corp. to go public, has welcomed the decision of Securities and Exchange Commission (SEC) to allow the Royal Dutch Shell Plc. An official from Pilipinas Shell also told Manila Bulletin that the approval is a welcome development for the company and would send good signal to both foreign and local investors. The offer shares, which will be listed on the main board of the Philippine Stock Exchange (PSE) on November 10, represent 18.6 percent of the company’s outstanding capital stock. SEC Chairperson Teresita Herbosa said she expects more IPO applications to come at the latter part of the year. Pilipinas Shell would be the third company to conduct an IPO this year, next to Golden Haven Memorial Parks Inc. and Cemex Holdings.

Source: Manila Bulletin September 28, 2016 14:03 UTC