Travellers group may cut size of P42-B IPO
MANILA, Philippines - Lingering uncertainties over global financial markets are forcing companies planning to do an IPO to stay on the sidelines.
The Andrew Tan Group now says they might cut the size of a planned IPO for Travellers International Hotel, its joint venture with Genting Hong Kong.
Alliance Global president Kingson Sian said they are waiting for market conditions to stabilize before doing the IPO.
He admitted that there is a chance the listing would occur this year "depending on market".
Regulators earlier approved an IPO size of P42 billion. No date has been set yet for the maiden offering. - With ANC