<p>MANILA - Harbor Star Shipping Services Inc has set the price of its initial public offering (IPO).</p><p>In a letter to the Philippine Stock Exchange on Wednesday, the tugboat operator said gross proceeds from its maiden share sale will reach P341.41 million after pricing the maiden share sale at P1.88 apiece.</p><p>Harbor Star earlier pushed back its equity offering originally scheduled last July because of volatile market conditions. The company revived it more than a week ago, but trimmed the maximum price for the offer shares to P2.50 apiece form the earlier guidance of up to P3.27 each.</p><p>The share sale will run from October 16 to 23, while tentative listing date is set on October 30.</p><p><a href="http://www.interaksyon.com/article/71500/tugboat-operator-harbor-star-prices-ipo-at-lower-end-of-range">Keep reading...</a></p>