Audiowav Media plans P2.66B IPO

TECHNOLOGY firm Audiowav Media Inc. is planning to raise as much as P2.66 billion from a local stock market debut.

Based on a prospectus dated AUg. 30 filed at the Securities and Exchange Commission, Audiowav plans to offer to the public 900 million common shares at a price range of between P1.77 to as high as P2.96 per share.

The initial public offering (IPO) will bring to public hands about 23 percent of the company’s shares. About 3.9 billion shares will be outstanding after the stock debut.

Read more: http://business.inquirer.net/214304/audiowav-media-plans-p2-66b-ipo