Tiger Air

Tiger Air: Philippine Stock Exchange has approved the IPO of Cebu Pacific (CEB), Asia’s third largest low cost carrier. Tentative listing date is 25 Oct, with int’l roadshow and bookbuilding to be held 27 Sep. CEB to offer 187m shares at no more than P$150/sh, with overallotment option of up to 28m shares. This may lift trading interest in peer, Tiger Air in the near term.