Xeleb Technologies Inc., the country’s first and largest celebrity-branded and themed casual games company, plans to raise as much as P737 million through an initial public offering in December.
Xeleb said in a filing with the Securities and Exchange Commission it would sell 290 million common shares at an offer price of P2.04 to P2.54 per share to jumpstart its Southeast Asian expansion.
Xeleb is the country’s first and largest celebrity-branded and themed casual games company. Its product offerings are among the fastest-growing mobile consumer products of the Xurpas group of companies.
The IPO shares will represent 19.68 percent of the company’s total outstanding capital stock. Xeleb is applying to the list on the small, medium, and emerging board of the Philippine Stock Exchange.
Xeleb said nearly 60 percent of the proceeds would be used to finance its expansion within the region between 2017 to 2019 while the remainder would be used to finance product development and other general corporate purposes.
The company hired SB Capital Investment Corp. as the sole issue manager and underwriter for the IPO.
It said at least 70 percent of the offer shares would be distributed to institutional buyers and the general public while the remaining 30 percent would be for trading participants of the PSE and the local small investors.
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.
Xurpas Inc. purchased 65 percent of the company in 2005. One year after its successful listing on the PSE in December 2014, Xurpas incorporated Xeleb Inc. as a subsidiary focused on the creation and development of celebrity-themed mobile casual games.
