September 07, 2018 at 08:00 pm
Jenniffer B. Austria
The Securities and Exchange Commission approved the P6.78-billion initial public offering of Cal-Comp Technology Philippines Inc., SEC commission secretary Armando Pan Jr. said Friday.
Cal-Comp will be the second company to conduct an IPO this year after DM Wenceslao & Associates Inc.
Documents from the SEC showed Cal-Comp wouild sell up to 378.071 million in primary common shares with an over-allotment option of up to 19.898 million common shares at a price of up to P17 apiece
Cal-Comp plans to offer the shares from Sept. 18 to 15 and list the shares tentatively on Oct 2.
The company plans to use the proceeds from the IPO to finance expansion. Cal-Comp Tech is building new factories in the Philippines to increase production and introduce new products to the domestic market.