Home » philippines stock » GT capital holdings ipo shares prospectus

Wednesday, April 4, 2012

GT capital holdings ipo shares prospectus

GT capital holdings ipo shares prospectus, GT capital holdings stock analysts : Taipan George Ty’s GT Capital Holdings decided on Tuesday to sell shares to the public at P455 per share, pricing the Philippines’ first initial public offering for 2012 at the middle of the targeted price range, for a stock market debut worth up to P21.6 billion.

The IPO – which has been warmly received by the overseas market – was priced at 13 times the amount of profits that the diversified conglomerate is expected to make this 2012, a valuation which many stock analysts deem as an attractive proposition.

Philippine conglomerate GT Capital Holdings Inc. could raise as much as 21.57 billion pesos ($505 million) in a planned initial public offering after pricing its shares at 455 pesos ($10.65) each, in what could be the country's biggest IPO since budget carrier Cebu Air Inc. raised $611 million in a 2010 deal.

GT Capital, the investment holding company of billionaire George Ty—the controlling shareholder of Metropolitan Bank & Trust Co.—plans to sell 47.4 million shares in the deal, including those set aside to cover excess demand. It had set an indicative price range of 415 pesos to 470 pesos, down from the 520 pesos it initially considered.

"The offering was extremely well received by global investors, with the international tranche more than five times oversubscribed," GT Capital President Carmelo Bautista said in a statement to the stock exchange.

GT Capital Vice Chairman Alfred Ty said despite the strong demand, the company had decided not to price at the top of the indicative range "to leave investors with room for upside."

The domestic portion of the offering starts April 10, with listing to follow on April 20.

For the latest updates on the stock market, visit Stock Market Today

gt capital holdings shares prices forecast, gt capital holdings ipo shares prices predictions, gt capital holdings,gt capital holdings April 10 2012, gt capital holdings inc, gt capital holding, gt capital holdings ipo prospectus, gt capital ipo prospectus, gt holdings philippines, gt capital china, gt holding phlippines, gt holdings ipo comments, jollibee food corp closing price stocks march 23 2012, philippine toyota initial public offering, portfolio gt capital holdings inc, pse gt capital prospectus, gt holding corporation, gt holding company. For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post:

Posted by at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)