North Star Meat Merchants Inc., one of the largest pork and beef vendors in the country, is planning to raise up to P4.5 billion from an initial public offering of both new and secondary shares.
In a statement, the firm said it has filed with the Securities and Exchange Commission its Registration Statement for the offer and sale of up to 450 million common shares at a price of up to P10 each.These shares consist of 360 million primary shares and 32 million secondary shares, with an over-allotment option of up to 58 million secondary common shares that will be used for the price stabilization activities.
In addition, the Company is looking to expand its financial muscle in order to keep up with the growth of their key retail partners SM Markets and Waltermart Group, and prepare for future potential retail partners. He added that, “We remain steadfast in our commitment to support the country’s goal to achieve food self-sufficiency and security while creating value for our shareholders.” BDO Capital & Investment Corporation has been engaged as the sole issue manager, and together with China Bank Capital Corporation, will act as the Joint Lead Underwriters and Bookrunners for the IPO.
Aside from advancing its expansion plans, North Star looks to further strengthen its presence in the cold chain solutions sector by creating synergies with public entities such as the Department of Agriculture .
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Meat vendor North Star files for P4.5-billion IPONorth Star Meat Merchants, whose partners include SM Markets and Waltermart, is raising P4.5 billion to expand its operations.
Baca lebih lajut »
Meat vendor North Star files for P4.5-billion IPONorth Star Meat Merchants, whose partners include SM Markets and Waltermart, is raising P4.5 billion to expand its operations.
Baca lebih lajut »
AC Energy signs P4.5-b agreements to hike shares in Ilocos wind projectsAC Energy Corp. said Monday it signed agreements over the purchase of the shares of UPC Philippines Wind Investment Co. BV and Stella Marie L. Sutton in their Philippine renewable energy companies and businesses for P4.5 billion. Read for more👇
Baca lebih lajut »
Tension between Unit II vendors, market personnel intensifiesCEBU CITY, Philippines -- Tension at Unit II of the Carbon Public Market in Cebu City continues to heat up.Early on Monday morning, March 21, clash again erupted after Unit II vendors resisted the
Baca lebih lajut »
WATCH: Fish vendor gives her earnings to Marcos Jr.Presidential candidate Bongbong Marcos has received a brown envelope containing a letter and cash from a fish vendor while making the rounds in Navotas City. “Tulong po naman sa inyo ‘yan sir,” the vendor said. Read:
Baca lebih lajut »