Philippines tycoon Dennis Uy is targeting shipping expansion through an IPO for his Chelsea Logistics Corp.
Uy said in a press release that the company plans to raise up to PHP 8bn ($160.85m) through a share sale in July.
This will fund an expansion programme that includes passenger and freight ro-ro group 2Go, of which Uy became CEO this month after his Udenna Corporation took an indirect 28% stake in the company.
