Philippine Stock Exchange: PSE approves BALAI’s IPO application

Balai ni Frutas, Inc., a company specializing in fruit-based beverages and desserts and fresh baked goods, secured its initial public offering (IPO) after the Philippine Stock Exchange, Inc. ( PSE) approved the company’s listing application. The company will be listed on the PES Small, Medium and Emerging (SME) Board of Directors under the trading symbol BALAI.

BALAI shares will be sold at a price of up to Php 0.75 each from June 17 to June 23, 2022. The company will offer up to 325 million primary shares and 50 million secondary shares with up to 37.50 million over-allotment option shares. The final offer price will be determined on June 14, 2022 after the company has conducted its book building exercise.

“We are on track to have the highest number of SME board registrations in one year with the IPO of Balai ni Fruitas. The company’s debut will also broaden the mix of SME listed as Balai is the first food and beverage company to register on this board,” said Ramon S. Monzon, President and CEO of PSE.

Proceeds from the IPO will be used by the company for store network expansion, the establishment of a commissary and potential acquisition opportunities.

Local Small Investors (LSI) can apply for the IPO through the PSE EASy website (http://myeasy.pse.com.ph) or a mobile application.

The preliminary terms and conditions of the offer are accessible via the Listing Notices section of the PSE EDGE website (http://edge.pse.com.ph).#


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