“While reception to the company and its plans has been positive, the company was constrained to defer the IPO due to increased market volatility amidst inflationary concerns,” the company said in a letter to the Philippine Stock Exchange . The letter was dated June 6 but made public on June 7.
The company said the deferral was made in consultation with BDO Capital & Investment Corp. and China Bank Capital Corp., its joint lead underwriters and joint bookrunners.
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