Cemex Philippines IPO tests Duterte effect

The Mexican cement producer plans to spin off its Philippine operations to repay short-term borrowings in first market test since new president was elected.

Mexican building materials supplier Cemex has officially kicked off the partial sale of its Philippine operations through an initial public offering on the Manila stock exchange, posing the first test of market sentiment towards new equity offerings since Rodrigo Duterte's election as president.

¬ Haymarket Media Limited. All rights reserved.

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