Puregold raises P4.7 billion via top-up placement

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(Source: Philippine Star | January 18, 2019)

Puregold Price Club Inc. has raised P4.7 billion in a top-up placement to fund its capital expenditure and other funding needs.

Puregold said in a disclosure that it sold approximately 104 million common shares at a price of P45 per share.

“Use of proceeds will be used for general corporate purposes, capital expenditure, and potential acquisitions. The sale shares represent approximately 3.8 percent of Puregold’s total issued and outstanding stock,” Puregold said.

Puregold is committed to continuously expand its footprint, carrying on from its strong performance last year.

It reported a consolidated net income of P4.62 billion in the nine months to September last year, up 18.4 percent. Net sales increased 14 percent to P99.8 billion

As of the end of September last year, the Puregold group had a total of 397 stores nationwide — 345 Puregold stores, 16 S&R membership shopping warehouse and 36 S&R New York Style QSR.

 

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