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Philippines National Grid taps banks for $1.5b IPO


Philippines National Grid taps banks for $1.5b IPO
FILE PHOTO: A trader walks past the electronic board of the Philippine Stock Exchange in Makati city, Metro Manila, Philippines June 27, 2016. REUTERS/Romeo Ranoco
March 16, 2021
National Grid Corp. of the Philippines has picked banks to work on its initial public offering and has increased its targeted size to at least $1.5 billion, according to people with knowledge of the matter, paving the way for the biggest listing in the nation’s history.
The high-voltage electricity network operator, commonly known as NGCP, has selected Bank of America Corp., JPMorgan Chase & Co. and UBS Group AG to work on the first-time share sale, said the people, asking not to be named as the process is private. It may also add other banks to help with the listing, they said. ....

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NGCP plans $1-billion IPO – Manila Bulletin


National Grid Corp. of the Philippines is planning an initial public offering that could raise as much as $1 billion, according to people with knowledge of the matter.
The high-voltage electricity network operator, commonly known as NGCP, has invited several banks to submit proposals for the share sale in Manila, said the people, who asked not to be identified as the information is private.
At $1 billion, NGCP’s IPO would be the biggest ever in the Philippines, according to data compiled by Bloomberg. The deal would eclipse Robinsons Retail Holdings Inc.’s first-time share sale which raised $621.1 million in 2013, the largest in the Southeast Asian nation to date, the data show. ....

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Philippines' National Grid Plans $1 Billion IPO


Philippines’ National Grid Plans $1 Billion IPO
Bloomberg
1/7/2021
Elffie Chew and Vinicy Chan
© Bloomberg
Electrical power lines hang from a transmission pylon in Danderyd, Sweden, on Monday, May 6, 2019. Electricity capacity issues could hit an economy already heading south after years of strong growth buoyed by household spending and exports.
(Bloomberg) National Grid Corp. of the Philippines is planning an initial public offering that could raise as much as $1 billion, according to people with knowledge of the matter.
The high-voltage electricity network operator, commonly known as NGCP, has invited several banks to submit proposals for the share sale in Manila, said the people, who asked not to be identified as the information is private. ....

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