Global Ferronickel Holdings Inc., the Philippines’ No. 3 nickel producer, is expected to raise $600 million (P26.9 billion) in a Manila initial public offering (IPO) in March, sources told bworldonline.com, taking advantage of higher prices and exports triggered by a ban on shipments of ore from Indonesia.
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One banking source familiar with the matter said pre-marketing for the issue, aiming to raise as much as P26.9 billion in the first local commodity IPO since Coal Asia Holdings, Inc. in 2012, would start in early March.
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