Philippine supermarket chain Puregold Price Club is seeking to raise $290 million in an initial public offering (IPO), Reuters reports. The supermarket chain, which operates 72 stores across the country, intends to sell up to 600 million common shares at up to $0.42 each, with another 90 million shares allotted for a green shoe option. HSBC and UBS have been appointed as international lead managers, while BDO Capital & Investment and First Metro Investment will be the domestic lead managers for the sale. The IPO was initially planned to be launched in March but was postponed due to market turmoil.

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