Balai ni Fruitas is increasing its allocation for its commissary to P60 million from the previous P20 million that will be sourced from is P203.8 million fund raising last year.
Balai ni Fruitas said the incremental increase was originally for its store network expansion and store improvement.
The Balai Board approved the proposal of management, which noted that Balai has been able to expand distribution through placement of its products in other Fruitas Holdings Community Stores and third-party partnerships, the company said.
By increasing the amount allocated to commissary set-up, the company will be able to expand capacity to serve increasing demand, it added.
Balai listed in June last year after an initial public offering where it offered to the public 412.5 million common shares at P0.70 per share.
