Key facts
- PLDT's data center subsidiary plans to raise up to $397 million.
- This offering could be the first IPO in the Philippines this year.
- The IPO aims to boost market liquidity.
The data center subsidiary of Philippine Long Distance Telephone Company (PLDT) is preparing to raise as much as $397 million through an initial public offering. This potential listing could mark the first IPO in the Philippines for the current year and is anticipated to contribute to an increase in market liquidity.
The move by PLDT's data center arm signifies a significant development in the Southeast Asian nation's capital markets, potentially signaling a more active year for new listings.