Home / FLD / Shell says IPO a ‘good possibility’

Shell says IPO a ‘good possibility’

Pilipinas Shell Petroleum Corp. sees a “good possibility” of going public by next year, considering the current strength of the Philippine stock market, Shell Country Chairman Edgar Chua said. An initial public offering (IPO), however, would depend on the results of a refinery expansion study that Shell is doing, Chua said. Chua said that according to that study, the expansion Shell had in mind would cost double its initial estimate. “The newer study is much more complicated because it will look at what we’ll do so that if we decide to expand, it will be at a non-regrettable cost,” he added. (October 10, 2007)