business
Philippine Tycoon Lucio Tan-Backed PNB Holdings May Push Back $930 Million IPO
PNB Holdings—the property arm of tycoon Lucio Tan’s Philippine National Bank (PNB)— may delay its initial public listing to protect its estimated 56.3 billion pesos ($930 million) valuation from a prolonged equities selloff fueled by the Middle East conflict.
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