COCONUT manufacturer Axelum Resources Corp. announced on Monday that it had brought down the maximum offer price for its initial public offering (IPO) to P5.72 per share from P6.81 previously to boost market appetite.

“By updating the maximum offer price, we aim to optimize investors’ interest and appetite in our local stock market, include more investors while still maintaining funding for our strategic plans,” Axelum president Henry Raperoga said in an e-mail message.

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