The Italian-Filipino sustainable property developer, Italpinas Euroasian Design and Eco-development Corporation (ITPI), is set to launch an initial public offering (IPO) this year to raise P242 million for its new and ongoing integrated development projects.
Obtained by the Manila Times on Tuesday, in a filing with the Securities and Exchange Commission (SEC), Italpinas said that it will be offering 57.622 million primary common shares, priced at a maximum of P4.20 per share.
The final offer price will be determined on July 21, and the offer period will run from July 27 to 31. The company expects to list on the Small, Medium and Emerging Board of the Philippine Stock Exchange (PSE) on August 10.
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