Filipino retailer plans IPO debut next month to expand footprint

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Photo from Inside Retail Asia

By Inside Retail Asia

Philippine bakery and juice shop operator, Balai Ni Fruitas, is eyeing to list on the local stock exchange next month, aiming to raise US$6 million to fund its expansion plans.

The company plans to issue 325 million primary common shares and 50 million secondary common shares at an offer price of up to P0.75 each (US$0.015). The majority of proceeds will be used for opening new stores between now and next year, opening commissaries and potentially acquiring other bakery brands.

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