Philippines equity: investors gush forth

The Philippine''s first internationally targeted IPO since 1997 attracts strong demand as international roadshows begin for the country''s largest ever IPO.

Jackie Horne

February 25, 2005

Manila Water has priced the international portion of its IPO at the top end of the price range after attracting a very strong order book. The 745.3 million share deal was priced over the weekend at Ps6.5 per share, netting the Ayala-controlled company Ps5.35 billion ($97.8 million) pre greenshoe.

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