DM Wenceslao sets IPO price at P12/share

PROPERTY and construction company DM Wenceslao and Associates, Inc. has set the final price for its initial public offering (IPO) of 679.2 million shares at P12.00 per share, which will allow it to raise as much as P8.5 billion in fresh funds.

In its term offer filed with the Philippine Stock Exchange last month, DM Wenceslao said it would use the proceeds to fund the development of pipeline projects, acquire additional land bank, develop infrastructure projects within its flagship project Aseana City in Pasay, and for other general corporate purposes.