The IPO of Philippines shipping group Chelsea Logistics Corp (CLC) is garnering strong support from investors.
Owner Dennis Uy told The Star daily that the PHP 5.8bn ($115.82m) deal is "three times over-subscribed."
"We’ve received very strong demand from investors. We’re actually having problems covering all of the orders although it’s a happy one from our perspective,” he said.
He added investor response showed belief in strong prospects for the sector.
