MANILA (Reuters) - Cemex Holdings Philippines Inc has started pre-marketing for an initial public offering of shares worth up to $500 million, with Citigroup, HSBC and JP Morgan as joint global coordinators and BDO Capital as local bookrunner, IFR reported on Friday.

In a preliminary prospectus approved by the Securities and Exchange Commission this month, the unit of Mexican cement giant Cemex said it was looking to raise up to 40 billion pesos ($860 million) at a maximum price of 17 pesos per share, which would have made it the Philippines’ biggest IPO.

Calls to both Cemex Holdings Philippines and BDO Capital seeking comment on the final size and timing of the IPO went unanswered.

Books are likely to open on June 15, said IFR, a Thomson Reuters publication, without citing the source of its information. It will be the Philippines’ first listing since December last year.