To those airline passengers who have missed meetings and appointments because of hours of delays, to those who have lost their luggage without either compensation or even a sincere apology from airline companies, and to those who were lured by “cheap” fares only to discover excessive hidden fees and charges, here’s an early Christmas gift for you.
Those holding Cebu Pacific (CEB) stocks are probably wondering what’s causing the stock to plummet during the past trading days. In just one week, the stock price of budget airline Cebu Pacific has declined by 9.3%, closing at P61.40 in last Friday’s (August 24) trading.
It’s actually been a losing battle for CEB stockholders since the company’s hyped initial public offering (IPO) in 2010. On its first trading day on the Philippine Stock Exchange (PSE) in October 2010, Cebu Pacific rose to P133.00 from its IPO price of P125.00. Unfortunately, the stock has not recovered from that all-time high price. It even ended the year 2011 at half the price, closing at P64.80 on the last trading day.
After deferring the planned Initial Public Offering (IPO) twice, it’s now all systems go for Cebu Pacific (CEB) to issue its shares to the public.
In a statement submitted to the Philippine Stock Exchange (PSE), Philippine budget airline Cebu Pacific said it will list its shares on the exchange starting October 26.