The Philippine Stock Exchange has approved CTS Global Equity Group Inc.’s P1.38 billion initial public offering (IPO).
The stockbroker-dealer is looking to offer to the public 1.38 billion shares at up to P1 per share, and eyes to be listed in the bourse’s Small, Medium and Emerging Board.
Proceeds from the share sale will be used to scale up CTS’ global trading operations, client account management expansion, and general corporate purposes.
The IPO is eyed to run between March 29 and April 4, 2022, with listing eyed on April 13. Price will be set by March 21.
CTS tapped SB Capital Investment Corp. as the issue manager, underwriter and bookrunner for the offer.
CTS Global is engaged in the trading of equities as a broker-dealer for the Philippine market, as well as global markets including the United States, China, Hong Kong, and Japan.
Its chairperson, Edward Lee, is also the chairperson of listed brokerage firm COL Financial Group Inc.
