Manila—(PHStocks)—Concepcion Industrial Corp. (PSE: CIC) formally concluded its initial public offering by listing its shares at the Philippine Stock Exchange (PSE) on Wednesday, 27 November. CIC has been in the air conditioning and refrigeration business for over 50 years.
“The industry where the business operates has certainly become very competitive over the years. Despite this environment, CIC remains to be a leader in the air conditioner and refrigerator categories because of the credible and sound reputation it has established in the last five decades. And this strong foothold in the business may very well expand to other business segments as the company explores the possibility of venturing into other product types,” PSE President and CEO Hans B. Sicat said in his welcome remarks at the listing ceremony.