FinanceAsia.com
Coming at a time of jittery equity markets and high fuel prices, Cebu Air is offering its shares at a significant discount to AirAsia. It has also secured a commitment from Temasek Holdings to act as a cornerstone investor, which should help make other investors more confident about the offering. The Singapore investment company, which is also the controlling shareholder of Singapore Airlines, will buy the equivalent of a 5% stake in Cebu Air up to a maximum of $50 million worth of shares through the IPO and has agreed to a 90-day lock-up. >>>> More
