Razon-led Prime Infrastructure Capital Inc. will likely move its P28 billion initial public offering to the first quarter of next year given the continuing market rout brought about by scorching inflation and rising interest rates, industry sources said.
Tycoon Enrique Razon has obtained the green light from the Department of Energy to acquire a controlling stake in Dennis Uy’s Udenna-led Malampaya deep-water gas-to-power project in offshore Palawan, touted as the country’s energy crown jewel.
Razon s Prime Infra files for P28 billion IPO philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.
The mergers and acquisition scene in the Philippines is alive and well despite the COVID-19 pandemic and new challenges in the post-election period including the transition to a new administration, skyrocketing inflation, and fears of a global recession.