Cemex prices $465m float on Brexit wobble

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By Jonathan Breen
30 Jun 2016

Cemex Holdings Philippines has raised Ps21.9bn ($465m), pricing its IPO near the bottom of guidance after it was put under pressure by last week’s Brexit decision.

The leads, BDO Capital & Investment Corp, Citi, HSBC and JP Morgan, opened books on June 21 with the deal already covered at the bottom of the marketing price range by a six-strong cornerstone group and various anchor investors.

The IPO of 2.03bn primary shares quickly drew ...

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