Take Off for Cebu Air IPO

The Philippines-based airline seeks to raise up to $288 million and is set to become the second listed low-cost carrier in Asia

Cebu Air has started the formal marketing of its initial public offering, which aims to raise up to $288 million. If successful, the Philippines-based carrier, which operates under the name of Cebu Pacific, will become the second only low-budget airline in Asia to go public after Malaysia's AirAsia.

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