Pilipinas Shell flouts volatile markets to peddle IPO

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.