Upson International Corp., the country’s largest supplier of computer hardware and software products, said a delayed P5.4-billion initial public offering will push through next month after sales jumped in the postpandemic period. | miguelrcamusINQ /PDI
“Our 10.17-percent revenue growth in the third quarter of 2022 compared to the same period in 2021 is close to our prepandemic performance that came with healthier foot traffic,” Sy added.
Upson said in the prospectus that net income from January to September jumped over 68 percent to P400.23 million while sales were up over 10 percent to P7.03 billion. Upson intends to price the IPO shares on Feb. 17 while the offer period will run from Feb. 22 to Feb. 28, based on the latest IPO prospectus, which was dated Dec. 28, 2022.
Once listed, the company would have an estimated public float of 30 percent and market value of up to P18 billion.“We are encouraged by the interest and support we’ve received from the public with regard to our upcoming initial public offering. We remain committed to deliver on our growth and expansion plans,” Sy said.
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