Technology provider AudioWAV Media Inc. plans to revive its initial public offering plan next year.
AudioWav president and chief executive Carlos Jose Hinolan said in an interview the company was keen on renewing its plan to list its shares with the Philippine Stock Exchange.
AudioWAV first filed its IPO application with the Securities and Exchange Commission in 2016 with a plan to offer up to 900 million common shares at an offer price of P177 to P2.96 per share. This would raise between P1.5 billion to P2.6 billion in proceeds.
The company was the first in the Philippines to develop a centralized proprietary technology for sensory branding with real-time updating capabilities.
Sensory branding is an experiential marketing strategy that appeals and stimulates multiple senses with the view of strengthening customer connection with a particular brand, influencing purchasing decisions and encouraging customer visits.
It developed its own proprietary platform designed to enable businesses and companies to create and design their own customized branding environment.