Makati City Bakuna

Xeleb resets IPO in February 2017

Xeleb Technologies Inc., the country’s first and largest celebrity-branded and themed casual games company, plans to conduct a P752-million initial public offering in February next year.

The company earlier planned to conduct the maiden share offering this month but failed to secure regulatory approvals.

Latest filing with the Securities and Exchange Commission showed that Xeleb slightly increased the size of the IPO to P752 million from original target of P737 million.It plans to sell 296 million primary shares from the initial target of 290 million shares.

It set the offering period from February 1 to 7 and the listing date tentatively on February 16.

The company maintained the price range for the IPO at P2.04 to P2.54 per share.

Xeleb is allocating up to P400 million from the IPO proceeds for expansion in Southeast Asia. 

Topics: Xeleb Technologies Inc. , initial public offering , IPO
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