IPOs - Asia

Cemex Philippines unit to launch up to $526 mln IPO on Tues - IFR

HONG KONG, June 20 (Reuters) - Cemex Holdings Philippines, a subsidiary of Mexican cement giant Cemex, will launch on Tuesday an up to $526 million initial public offering, IFR reported on Monday, citing a person close to the deal.

The company is offering 2.03 billion shares in an indicative range of 10.50 pesos to 12.00 pesos each, added IFR, a Thomson Reuters publication.

Cemex Holdings Philippines has secured $125 million from seven cornerstone investors for the IPO, IFR said.

The company didn’t immediately reply to a Reuters emailed request for comment on the deal. ($1 = 46.3400 Philippine pesos) (Reporting by S. Anuradha of IFR; Writing by Elzio Barreto; Editing by Edwina Gibbs)