DM Wenceslao & Associates Inc., a construction and property company, said it will decide on its initial public offering plans after the May presidential elections.
DM Wecenslao earlier scheduled to conduct its P12.3-billion maiden offering in December after securing regulatory approvals. But the company decided to defer the public offering to 2016 due to volatile market conditions.
DM Wencelsao chief executive Delfin Wenceslao said the company was not in a hurry to raise funds after securing unding for its 2016 capital expenditures.
“We will decide after the elections. We cant do anything right now because investors are also waiting for the elections,” Wenceslao said.
He said the company could also borrow from banks due to a very low debt level. DM Wenceslao plans to sell up to 429 million primary common shares while selling shareholder Wendel Holdings Inc. gave underwriters an option to sell another 64.375 million secondary shares to cover for overallotment.