Xeleb plans to raise up to P800M in IPO

ABS-CBN News

Posted at Oct 11 2016 03:08 PM

MANILA - Xeleb Technologies Inc. on Tuesday said it planned to raise up to P800 million through an initial public offering this year to continue product development and regional expansion.

The company said it filed an application with the Securities and Exchange Commission to offer up to 290,000,000 common shares at an offer price of between P2.04 to P2.54 per share. 

The shares will represent 19.68 percent of the company's total outstanding capital stock.

Xeleb Technologies has tapped SB Capital Investment Corp. as its sole issue manager, underwriter, and bookrunner for its initial offer.

Xeleb Technologies, which is majority-owned by tech firm Xurpas Inc., is focused on developing celebrity-branded and themed casual games.

Pizza restaurant operator Shakey's Pizza Ventures Inc. said Monday it planned to raise P5.5 billion through an IPO. Memorial Park Golden Haven Inc. and the Philippine unit of Mexican cement-maker Cemex have listed on the exchange so far this year.