Cal-Comp Technology (Philippines) Inc. is reviving plans to list its shares.
The company this week filed with regulators a plan to raise P10.68 billion from the sale of 371.42 million shares as primary offer with 55.71 million secondary shares covering the greenshoe option at an offer price of up to P25 apiece.
Cal-Comp expects to net P8.81 billion from the company’s shares for funding facilities expansion (40 percent), capital expenditure (30 percent), debt repayment (15 percent), research and development (12 percent), and working capital (3 percent).
Proceeds from the overallotment option worth P1.32 billion meanwhile will go to the selling shareholder Kinpo International (Singapore) Pte. Ltd.
Cal-Comp has tapped BDO Capital & Investment Corporation and Maybank Kim Eng Securities Pte. Ltd. as the joint global coordinators, joint bookrunners, and joint domestic lead underwriters. Maybank Kim Eng is the international lead underwriter.
About 70 percent of the shares will be offered overseas and to Philippine institutional investors while 30 percent will be offered through the trading participants of the Philippine Stock Exchange and to local small investors.
Last year, Cal-Comp had hoped to raise P6.77 billion from the sale of 378.07 million primary shares to fund its planned facilities expansion, acquisition of new equipment, and research and development.