ExpressPay Inc., a company that develops IT solutions for the financial sector, plans to raise P528 million through an initial public offering next month.
A registration statement filed with the Securities and Exchange Commission showed ExpressPay would sell 193.453 million common shares at P2.73 per share.
The company will list its shares under the small, medium and emerging board of the Philippine Stock Exchange. Post IPO, ExpressPay will have a public float of 26 percent. Unicapital Inc. is the sole issue manager and underwriter for this IPO.
Offer period was tentatively set on June 5 to June 9 while listing date was set on June 19.