September 12, 2013

Concepcion Industrial, Frontier Oil to list in local bourse

Appliance maker Concepcion Industrial Corp. and upstream petroleum firm Frontier Oil Corp. are seeking regulatory approval for a P2.711-billion and P2.209-billion initial public offering (IPO), respectively.

Concepcion Industrial, one of the Philippines’ leading suppliers of air conditioning solutions and refrigerators and consumer appliance products, plans to sell as much as 74.96 million shares at a maximum offer price of P31.45 each.

Frontier Oil plans to sell up to 883.62 million common shares at an offer price of up to P2.50 a piece, or a total IPO value of P2.209 billion.- WealthSec