PLDT updates PSE on partner’s IPO in Frankfurt

THE PHILIPPINE Long Distance Telephone Co. (PLDT) informed the Philippine Stock Exchange (PSE) on Monday that Rocket Internet AG (Rocket), where it poured almost half a billion dollars in investments, has decided to advance the date of its initial public offering (IPO) and listing on the Frankfurt Stock Exchange.

In a disclosure to the PSE, the company said that Rocket’s offer period, which started on September 24 will now end on October 1 instead of October 6. And the listing of shares and the first day of trading of Rocket shares on the Frankfurt bourse will commence on October 2 instead of the initial date of October 9.