Pilipinas Shell flouts volatile markets to peddle IPO

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Pilipinas Shell Petroleum Corp, the local arm of oil and gas conglomerate Royal Dutch Shell, has started sounding out investors for its upcoming Ps29.7bn ($614.9m) IPO. It is coming at a time when the country’s equities market and currency have been volatile, but early signs suggest the issuer is set to defy the challenges. Jonathan Breen reports.