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OceanaGold makes lackluster market debut

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Australian-Canadian mining company OceanaGold Philippines Inc. saw a lackluster market debut yesterday after its share price dropped by more than six percent.

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OGPI, the market’s IPO curtain raiser this year, marked the first public listing of a mining firm in the Philippine Stock Exchange in more than a decade. Limlingan added that recent volatility of commodity prices in the world market could also have been a factor to the drop in OGPI’s share price. OGPI, a wholly owned subsidiary of Australian-Canadian firm OceanaGold Corp., raised P6.08 billion from the IPO.

The country’s outstanding debt as a share to the overall economy slightly eased in the first quarter, but remained above...

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