Philippines’ National Grid Plans $1 Billion IPO
- The transmission network operator asks for bank proposals
- NGCP is required to go public under a law signed in 2008
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National Grid Corp. of the Philippines is planning an initial public offering that could raise as much as $1 billion, according to people with knowledge of the matter.
The high-voltage electricity network operator, commonly known as NGCP, has invited several banks to submit proposals for the share sale in Manila, said the people, who asked not to be identified as the information is private.