IT retailer Upson International files for IPO to expand store chain

Photo from: PhilStar

By PhilStar

IT product retailer Upson International Corp. filed for an initial public offering on Monday in a bid to raise funds to expand its network of stores around the Philippines.

In the prospectus sent by the Securities and Exchange Commission on Monday, the hardware and software retailer is looking to raise P4.88 billion, with 888.15 million shares up for sale.

UIC. is offering P5.50 per share. The firm also said it would offer 88.8 million shares through the Philippine Stock Exchange’s Electronic Allocation System.

The retailer, founded in 1995, owns Octagon Computer Superstore, Micro Valley and Gadget King and is considered the largest IT merchandise retailer around the country, with over 183 branches nationwide, mostly in Metro Manila.

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