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Dennis Uy's Chelsea Logistics rises in stock market debut

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<blockquote class="twitter-tweet" data-lang="en"><p dir="ltr" lang="en">Sec Tugade, Dennis Uy and family ready to ring in <a href="https://twitter.com/search?q=%24CLC&amp;src=ctag">$CLC</a>&#x27;s first trading day. <a href="https://t.co/sXHybnBrMi">pic.twitter.com/sXHybnBrMi</a></p>— Warren de Guzman (@wddeguzman) <a href="https://twitter.com/wddeguzman/status/894732078289371138">August 8, 2017</a></blockquote><script async="" src="http://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script><p>MANILA - Davao businessman Dennis Uy&#x27;s Chelsea Logistics debuted on the stock exchange on Tuesday, in a bet on the growing logistics sector.</p><p>Chelsea was up 4.31 percent to P11.16 in early trading. The initial public offering of 546,593,000 shares was priced at P10.68, 37 percent below the ceiling.</p><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/07/11/17/philippines-new-tycoon-rises-from-dutertes-davao">Philippines&#x27; new tycoon rises from Duterte&#x27;s Davao</a></li></ul><figure class="op-interactive"><iframe allowfullscreen="" frameBorder="0" height="315" src="https://www.youtube.com/embed/71_3H_jW6_0" width="560"></iframe></figure><p>The company is poised to benefit from a boom in logistics, as online commerce boosts demand for delivery of goods, said Philstocks Financial senior equity analyst Jun Calaycay.</p><p>&quot;For long-termers, I would rather wait for the IPO euphoria to settle down before making long-term commitments,&quot; Calaycay told ANC&#x27;s Market Edge with Cathy Yang.<br/> </p>

<p>Davao businessman Dennis Uy's Chelsea Logistics debuted on the stock exchange on Tuesday, in a bet on the growing logistics sector.</p>

Davao businessman Dennis Uy's Chelsea Logistics debuted on the stock exchange on Tuesday, in a bet on the growing logistics sector.