SEC oks DM Wenceslao’s P15.5B IPO

Aseana Square is a two-storey food hub and commercial complex that serves the 240,000 vehicles that pass through Aseana City.

The Securities and Exchange Commission has approved a plan by construction firm D.M. Wenceslao and Associates to
raise as much as P15.5 billion from an initial public offering.

DM Wenceslao was authorized to sell 679.17 million in new common shares, bringing to public hands about 20 percent of its outstanding shares. This includes an option to upsize the offer by 101.88 million shares.

Based on its March 6, 2018 prospectus, DM Wenceslao plans to offer new shares at up to P22.90 per share.

BPI Capital Corp. and Maybank Kim Eng are the joint global coordinators, bookrunners, international lead managers and underwriters for this offering.