Cebu Pacific IPO plans shelved indefinitely
Cebu Pacific IPO plans shelved indefinitely
The Philippines’ top budget airline Cebu Pacific said on Wednesday its plans for a $309-million initial public offering were on hold due to market uncertainty. Lance Gokongwei the airline’s president said the indefinite postponment would not affect the company’s expansion plans including its plans to exercise purchase orders for 10 Airbus A320 planes and 8 ATR-72-500 planes.
Source: www.abs-cbnnews.com