JG Summit's airline unit confirms IPO plan

 

 

MANILA (XFN-ASIA) - Low-cost carrier Cebu Pacific Air Inc, a unit of publicly-listed conglomerate JG Summit Holdings Inc plans to undertake an initial public offering, Cebu Pacific's chief executive, Lance Gokongwei, said. ''In the next two years, we would like to list our airline company,'' Gokongwei told an economic forum here. Cebu Pacific said the proceeds would fund be used to pay for its 600 mln re-fleeting program.

 

http://www.mb.com.ph/BSNS2007022087662.html