Cemex Holdings Philippines Inc., a unit of the largest cement maker in the Americas, raised $465 million in the country’s biggest initial public offering in more than two years.

The building-material producer priced its sale of 2.03 billion shares at 10.75 pesos apiece, the midpoint of a revised range, according to a Philippine stock exchange filing Thursday. Cemex Philippines was offering the shares at 10.50 pesos to 11 pesos apiece, after this week cutting the top end of the marketed range by a peso, people with knowledge of the matter said earlier, asking not to be identified as the information is private.

Cemex’s listing comes at a time when the U.K.’s vote to exit the European Union has roiled stocks and currencies globally. At $465 million, the IPO is the largest in the Philippines since supermarket operator Robinsons Retail Holdings Inc.’s $621 million share sale in October 2013, data compiled by Bloomberg show.

Six cornerstone investors including BlackRock Inc. and Fullerton Fund Management Co., an arm of Singapore state investment company Temasek Holdings Pte, bought about $104 million of stock in the offering, according to terms for the deal obtained by Bloomberg earlier. Citigroup Inc., HSBC Holdings Plc and JPMorgan Chase & Co. managed the sale, together with domestic lead underwriter BDO Capital & Investment Corp.

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