(Telecompaper) Philippine Long Distance Telephone Company (PLDT) has announced that its Rocket Internet subsidiary has priced its initial public offering (IPO) at EUR 42.50 per share. At the issue price of EUR 42.50 per share, and assuming the full exercise of the underwriting banks' option in connection with the over-allotment or the Greenshoe Option, Rocket has a market capitalization of around UR 6.7 billion. The offering was over-subscribed in excess of 10 times at the top end of the price range.