OceanaGold Philippines, the operator of the Didipio gold copper mine in Nueva Vizcaya province in Luzon, pursued the listing to comply with the requirements of its mining franchise,
It sold shares at P13.33 each, which were marked down from the initial indicative price of P17.28 each.
The company launched its IPO amid an economic climate beset by inflationary pressures and high interest rates.
This prompted Sy-led SM Prime Holdings and tycoon Enrique Razon Jr.’s Prime Capital to delay their listings.
OceanaGold Philippines’ debut came during a time of soaring gold prices, which hit a record high of $2,304.09 an ounce last week.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
