Cebu Pacific A320. Photo: By Rob Finlayson. Philippines-based Cebu Pacific announced Tuesday that it completed one of the country’s largest initial public offerings, raising PHP23.3 billion ($539 million) prior to exercise of an overallotment option. The airline also claimed it was the “largest international low-cost carrier IPO offered globally to date.” Cebu said it sold 186.6 million shares, or 30.4% of total outstanding shares, to investors in the Philippines ...

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