SEC OKs Cal-COMP's P6.77B IPO | Inquirer Business
Close  

SEC OKs Cal-COMP’s P6.77B IPO

/ 02:44 PM September 07, 2018

 

The Securities and Exchange Commission (SEC) has approved a plan by consumer electronics manufacturer Cal-Comp Technology (Philippines) Inc., a unit of Taiwan-based New Kinpo Group (NKG), to embark on a P6.77-billion initial public offering.

Cal-Comp’s registration statement for the IPO had been cleared by the SEC en banc in a meeting late Thursday, SEC Secretary and spokesperson Arman Pan said.

ADVERTISEMENT

The NKG unit plans to sell up to 397.97 million new common shares at a maximum price of P17 per share, bringing about 26.77 percent of the company’s shares to public hands.

The base offer consists of 378.07 million common shares but the company seeks an option to upsize the issuance by up to 19.9 million.

FEATURED STORIES

Proceeds from the IPO will be mainly used for facilities expansion, acquisition of new equipment and increased investment in research and development. /muf

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Cal-Comp Technology, initial public offering, Investment, New Kinpo Group, SEC, stocks
For feedback, complaints, or inquiries, contact us.

Subscribe to our business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.