Philstocks Financial Inc. and Pointwest Technologies Corp. plan to push through with their planned initial public offerings before the end of 2015.
Both companies are still waiting for regulatory approval before proceeding with the maiden offering.
Pointwest Technologies’ underwriter SB Capital said once the company obtained the nod of the Philippine Stock Exchange and the Securities and Exchange Commission next week, it would push through with the P2.08-billion IPO this month.
SB Capital president Ricky Galang said there was healthy demand of Pointwest Technologies’ shares. “We don’t want to lose the momentum,” Galang said.
Pointwest Technologies plans to sell up to 417 million common shares with an over allotment of 62.55 million common shares, at an offer price of up to P4.35 apiece.
Proceeds will be usedfor the expansion of delivery centers in the Philippines, expansion of US sales operations, development of digital products and acquisition of applications and proprietary technologies. Point West is a leading Filipino-owned service company with a proven track record in information technology and business process management industry.
