Philippines' electric grid operator files for up to US$571mil share sale

MANILA, Aug 17 (Reuters): Philippines' Synergy Grid & Development Phils. Inc, majority owner of the country's only electricity grid operator, has applied to sell new shares to increase its public float and fund expansion of its operating unit.

The share sale adds to a slew of initial public offerings (IPO) by property and consumer firms in the Philippines expected to help the country take the rare top slot in terms of fundraising in Southeast Asia this year.