DM Wenceslao Cuts Offering Price to PhP25

DM Wenceslao & Associates Inc. has reduced the maximum price for its planned initial public offering to PhP25 apiece, down 43% from the initial price of PhP44 amid volatile market conditions.

DM Wenceslao could potentially raise as much as PhP12.3 billion in proceeds at an IPO price of PhP25 per share from the original target of PhP21.7 billion.

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Source: The Standard

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