PLDT Rocket’s Frankfurt IPO priced at 42.50 euros

THE PHILIPPINE Long Distance Telephone Co. (PLDT) said Rocket Internet AG (Rocket), where it has invested almost US500 million, has successfully priced its initial public offering (IPO) on the Frankfurt Stock Exchange at 42.50 euros per share.

In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, PLDT said at the issue price of 42.50 euros, and assuming the full exercise of the underwriting banks’ option in connection with the over-allotment or the “Greenshoe Option,” Rocket will raise up 6.7 billion euros in capital.