MANILA Nov 8 Nickel Asia Corp, the
Philippines' biggest nickel miner, could raise more than $100
million after pricing its initial public offering at 15 pesos
per share, the low end of an indicative range, its underwriters
said on Monday.
The company, partly owned by Japan's Sumitomo Metal Mining
Co Ltd (5713.T), plans to sell up to 304.5 million shares in
main offering, which would raise 4.57 billion pesos ($107
The IPO will open Nov 9, with listing scheduled for Nov 22.
Proceeds will be used to fund ongoing projects and
The company, which had given an indicative price range of
14.95 pesos to 23 pesos for the share sale, has a greenshoe
option for another 45.675 million shares.
UBS UBSN.VX(UBS.N) and CLSA are joint bookrunners and
lead managers. ATR KimEng Capital Partners, SB Capital
Investment Corp and UBS Investment Philippines are the domestic
($1 = 42.7 pesos)
(Reporting by Erik dela Cruz; Editing by John Mair)