Ty power firm shelves IPO plan this year
(The Philippine Star) | Updated June 17, 2013 - 12:00am MANILA, Philippines - The power generation arm of conglomerate GT Capital Holdings Inc. is temporarily shelving its plans for an initial public offering (IPO) this year.
New power generation projects are already adequately funded but Global Business Power Corp. (GBPC) is not ruling out a debut in the local bourse next year if there are new expansion, a company executive said.
“Not yet, not this year,” said GBPC director Alfred V. Ty when asked if the power producer would pursue its listing plan this year.
“There are a lot factors like taking into account the use of proceeds [and] new projects,” Ty said, adding that the company has to prepare new expansion plans.
In 2012, GBPC president Arthur Aguilar said the company might conduct an IPO as early as this year if new expansion plans are already finalized.