Pizza parlor chain operator Shakey’s Pizza Asia Ventures Inc. (SPAVI) priced its initial public offering (IPO) at P11.26 per share on Monday night, thus bringing the size of its stock market debut to a maximum of P3.96 billion.
Several industry sources privy to the share sale told the Inquirer that the IPO price-setting had been approved by the issuer and the arrangers on Monday evening ahead of the offering which will run from Dec. 2 to 8.
The offer price was cut from the earlier maximum price of P15.58 per share.
An investors briefing will be held in relation to this IPO on Thursday (Dec. 1).
Inaugural trading of SPAVI’s shares on the PSE is scheduled for Dec. 15. The company will trade under the ticker “PIZZA.”
SPAVI will offer 104 primary common shares and 202 million secondary common shares plus 46 million additional shares in case of excess demand.
BDO Capital & Investment Corp. and First Metro Investment Corp. are the lead underwriters for the transaction while BDO Capital is also the stabilizing agent.
Read more: http://business.inquirer.net/220387/spavi-shakeys-ipo-pricing
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