McD's Philippines franchisee eyes IPO as company's stock hits 7-year high

PHILIPPINES Golden Arches Development Corp., the McDonald's master franchisee in the Philippines, reportedly will undertake an initial public offering in the second half of this year, with proceeds earmarked for further expansion in its local market.

The Philippine Star reported Wednesday that Golden Arches hired Ernst & Young as financial advisor for its pending offering and has started talks with potential underwriters. No details on the size of the offering

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