Latham & Watkins represented Deutsche Bank as the sole global co-ordinator and bookrunner in the IPO of Shakey’s Pizza Asia Ventures on the Philippine Stock Exchange (PSE).
The IPO included a public offering in the Philippines and a Regulation S international offering. The share sale was oversubscribed by three times due to demand from institutional investors. Priced at 11.26 pesos (22 US cents) per share, the top of the indicative price range, the offering of 351.9 million common shares raised 3.96 billion pesos and was the fourth and final company to debut on the PSE in 2016.
The Latham & Watkins team was led by Hong Kong partner Benjamin Carale and associate Diana Dizon. “We worked closely with the underwriters and Shakey’s Pizza to bring this IPO to fruition,” said Carale. “We are pleased to have advised on this deal and to have helped another leading Philippine company access the international capital markets.”
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