PureGold prices IPO at bottom ahead of retail
The Philippines’ PureGold Price Club set the price for its initial public offering at the bottom of the range, after closing the institutional books on Tuesday. The company will now offer the deal to retail investors.
Some bankers were surprised the deal was not priced higher after the positive sentiment that has surrounded this deal since its launch. "The markets really are in trouble if this priced at the bottom," said an ECM banker away from the deal.
The company priced the deal at Ps12.50
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