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Xeleb postpones IPO plan to May

Xeleb Technologies Inc., the country’s first and largest celebrity-branded and themed casual games company, moved its planned P752-million initial public offering to May.

This marked the third time the company moved the timetable for the maiden share offering because of the delay in securing regulatory approvals. 

Xeleb filed its IPO application with the Securities and Exchange Commission in October and originally aimed to list by December, before the plan was moved to February.

Latest filing with the SEC showed the company set the offering period on May 8 to May 12 and the listing date on May 22.

Xeleb plans to sell 296 million primary shares at an offer price of P2.04 to P2.56 per share.

The company plans to use up to P400 million from the IPO proceeds to expand in Southeast Asia, especially Indonesia, Thailand and Vietnam.

“The company has identified these countries to have favorable markets for distribution of celebrity themed mobile casual games,” Xeleb said.

The offer shares, to be listed under the small, medium and emerging board of the Philippine Stock Exchange, represent 20 percent of the company’s total outstanding capital stock.

Xeleb tapped SB Capital and Philippine Commercial Capital Inc. as joint issue managers and lead underwriters for the offering.

Xeleb portfolio of stars include Anne Curtis-Smith, Alejandro “Kuya Kim” Atienza, Isabelle Daza, Erwan Jean Heussaff and Sarah Geronimo.

Xeleb was originally founded in 2001 as Fluxion Inc., primarily focused on providing wireless technologies, software/hardware tools design and knowledge-based services to corporate clients. 

Topics: Xeleb Technologies Inc.
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