Fruitas, Cal-Comp IPOs approved


    The Philippine Stock Exchange (PSE) has given the green light to the initial public offering plans of Fruitas Holdings Inc., and Cal-Comp Technology (Philippines) Inc. which plan to raise P1.2 billion and P9.29 billion, respectively.

    Fruitas will offer to the public 533.66 million firm shares and another 68.34 million common shares covering the greenshoe option at an offer price of up to P1.99 per share.

    Fruitas will to use the proceeds to fund its store network expansion and improvement, acquisitions, new concept introductions, and debt repayment.

    The company said it intends to announce the final price of its IPO by November 14, with the offer period running between November 18 and November 22.

    Listing is by November 29 under the ticker symbol Fruit.

    First Metro Investment Corp., and BDO Capital & Investment Corp., will serve as joint issue managers, joint bookrunners, and joint lead underwriters for.

    Cal-Comp meanwhile eyes to offer 371.42 million common shares, with an overallotment option comprising 55.71 million common shares held by Kinpo International (Singapore) Pte. Ltd., at a maximum price of P25 per share, for a total proceeds of P9.29 billion.
    Cal-comp expects to have its price set by November 7 in time for the offer that will run between November 11 and 15. Listing is eyed November 25  under the ticker symbol CCPH.

    Tapped as joint global coordinators and bookrunners were BDO Capital & Investment Corp., and Maybank Kim Eng Securities Pte. Ltd. Maybank Kim Eng Securities also act as international lead underwriter while Maybank ATR Kim Eng Capital Partners, Inc. will join BDO Capital as domestic lead underwriter.