EARLY STAGE – The price is just beginning to move.

In a letter to the Philippine Stock Exchange on Tuesday, the company announced it resolved to offer as much as 351.9 million common shares to the investing public for P11.26 apiece or P3.96 billion in aggregate. Shakey’s had pegged the maximum price at P15.58 per share for a total of P5.48 billion. The offering later fetched indicative prices ranging from P10.70 to P11.26, according to Thomson Reuters publication IFR. “The price was set so the books are covered sufficiently with lots of upside,” BDO Capital & Investment Corp. President Eduardo V. Francisco said in a mobile phone message. Read More @ http://www.bworldonline.com/content.php?section=Corporate&title=shakeys-operator-prices-ipo-below-maximum&id=137093

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