Metro Retail Stores Group, Inc. is on track with its plan to raise fresh capital via initial public offering as it sets its offer period from November 2 to 6 this year.
The group is looking to get additional funding by offering 1.012 billion common shares at an offer price of up to P6.10 per share, a total of about P6.17.
Listing is tentatively set on November 12.
Metro Retail’s listing is part of its ambitious expansion plan, which include the construction of additional department stores and hypermarket in the Panay Region, particularly in Iloilo and Bacolod City.
Apart from Metro Retail, two other companies are eyeing to list with the Philippine Stock Exchange this year: Datem Inc., DM Wenceslao & Associates Inc.
Datem Inc., a construction firm, plans to raise P4.65 billion from the sale of up to 329.046 million shares with an offer price of up to P14.15 per share. Its sale period is from Nov. 16 to 24 and its shares will be listed on the Main Board on Nov. 27.
On the other hand, , DM Wencesalo, the holding company of the Wenceslao Group, is expecting raise P21.7 billion from the sale of up to 493.54 million shares priced at an offer price of up to P44 per share. Offer period will be from Nov 2 to Nov 6 while listing date has been tentatively set on Nov. 12.
The PSE earlier said it is looking to have 10 IPOs for 2015, including backdoor listings. So far only two companies have been listed – Crown Asia Chemicals Corp. and SBS Philippines Corp.
Three other companies are also have pending listing applications: Italpinas Development Corp., Gweilo Corp., and Philstocks Financial Inc.