TAKING its cue from the market, Metro Retail Stores Group Inc. has cut the offer price of its maiden share sale from the initially announced P6.10 per share to just P3.99 each.

In a disclosure to the Philippine Stock Exchange (PSE), Metro Retail Chairman and Chief Executive Officer Frank S. Gaisano said the company had set the share price during the book building process for its planned initial public offering (IPO).

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