Pilipinas Shell Petroleum $400 million IPO

Overview:

• Pilipinas Shell Petroleum (Pilipinas Shell) launched a $400 million IPO on the Philippine Stock Exchange.
• The proceeds will be used for Pilipinas Shell capital expenditures, working capital and general corporate purposes.
• Pilipinas Shell initially anticipated to raise $629 million from the IPO, which could have been one of the Philippines' largest IPO transactions.
• In terms of volume of fuel sold Pilipinas Shell had the second largest overall market share of the domestic retail fuel market.
• JPMorgan and BPI Capital are the joint global coordinators and underwriters.
• Rothschild is the financial advisor.

Wai Yee Tsang - Asia Pacific - Journalist