Cemex Philippines plans up to $855 mln IPO
MANILA, March 14 (Reuters) - Cemex Holdings Philippines Inc, a unit of Mexican cement giant Cemex, is looking to raise as much as 39.745 billion pesos ($855 million), a registration statement filed with the Philippines' Securities and Exchange Commission showed.
Cemex Philippines plans to offer up to 2.337 billion common shares at an offer price of up to 17 pesos per share, the documents said.
On Friday, the Mexican company said its Philippine unit had filed a registration statement with the Philippine SEC in connection with the IPO.
"The filing of the registration statement with the Philippine SEC is a first step in one of the alternatives CEMEX is exploring in the context of CEMEX's previously announced asset divestiture plan," Cemex said in a statement.
($1 = 46.4800 pesos) (Reporting by Enrico dela Cruz; Editing by Michael Perry)
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