AGRINURTURE INC., THE FIRST crops-focused company to list on the Philippine Stock Exchange, is set to offer shares to the public after the May general elections.

The company?s board of directors approved the proposed issuance of 104.7 million shares, as well as 20 million warrants as sweetener.

One warrant corresponds to one common share that can later be acquired at a set price.

ANI CEO and president Antonio Tiu said in a phone interview that the shares to be issued accounted for 30 percent of the company.

He said that the company had not set the date for the IPO nor the offer price.

In May last year, ANI got listed by introduction, which allowed it to join the PSE without selling shares to the public for one year.

ANI needs to raise about P5 billion until 2014 to fund its growth programs.

Meanwhile, Beidahuang Philippines, ANI?s affiliate company, is also up for listing.

Beidahuang Philippines is a joint venture with Heilongjiang Beidahuang Seed Group Co., Ltd., China?s top agriculture firm. Riza T. Olchondra