Pilipinas Shell IPO priced at P67 per share

Pilipinas Shell Petroleum Corp. has priced its initial public offering at P67 per share, allowing the oil firm to sell as much as P19.5 billion to the public.

The oil firm has finalized its offering at 275 million shares, which can be raised to 291 million if overallotment is exercised, said Reginaldo Cariaso, managing director at BPI Capital which is the lead domestic underwriter for this deal.

“Pilipinas Shell IPO was priced at P67 per share, the top end of the price guidance of P65 to P67 (per share),” Cariaso said in a text message on Friday.

The IPO will run from Oct. 19 to 25.