Cemex Philippines rises 4.2 pct in market debut

domingo 17 de julio de 2016 21:39 GYT
 

MANILA, July 18 (Reuters) - Shares of Cemex Holdings Philippines Inc, a unit of Mexican cement giant Cemex , opened at 11.20 pesos, above the offer price for Southeast Asia's second-largest initial public offering this year.

The IPO was priced at 10.75 pesos, raising 25.13 billion Philippine pesos ($537 million), the Philippines' biggest since 2013.

Cemex Philippines is banking on the new government's pledge of massive infrastructure spending and an ongoing private sector construction boom. ($1 = 46.8000 Philippine pesos) (Reporting by Neil Jerome Morales; Editing by Stephen Coates)