Fruitas Holdings Inc. said it raised P200 million through the issuance of a corporate notes to institutional investors.
The fund raising was facilitated by RCBC Capital Corp. and was offered 19 primary institutional lenders.
Fruitas said it will use the fund for working capital requirements and general corporate purposes.
“The warm reception of the notes issuance, as reflected by the full take-up of the maximum amount set by the company, speaks volumes about investors’ confidence,” the company said.
“This milestone represents a significant step forward for Fruitas Holdings, signifying our increasing prominence in the market. We express our utmost gratitude to the investors which subscribed to our notes. We will reciprocate this confidence by delivering on our strategic initiatives. This notes issuance provides a new financing source which will empower House of Fruitas to expand its product offerings and access a broader customer base,” said Lester Yu, Fruitas Holdings chief executive officer.
Early this week, Fruitas reported that profit last year reached P113 million, up 37 percent from P82 million the prior year.
Revenues reached P2.47 billion, a 37 percent increase from P1.8 billion in 2022.
