The Keepers Holdings Inc., the liquor holding company of retail tycoon Lucio Co, has set the final price of its planned share sale at P1.50 apiece.
The final price is at the low range of P1.50 to P2.50 per share earlier set by the company. It is also nearly at a 50-percent discount from its last trading price of P2.95 each.
The Keepers will offer 3 billion primary shares that will enable it raise P4.5 billion in fresh capital to fund strategic acquisition opportunities, expansion of product portfolio and distribution channels, investments in distribution and logistics network, working capital, and for general corporate purposes.
The Keepers the offer period from November 4 to 10, with the shares to be listed with the Philippine Stock Exchange on November 19, 2021.
The follow-on offering aims to increase the company’s public float to 20.94 percent, enabling it to comply with the 10-percent minimum public ownership requirement for listed companies.