Food, beverage kiosk firm plans IPO

Food and beverage kiosk operator Fruitas Holdings Inc. (Fruitas) plans to raise as much as P1.2 billion from an initial public offering by November this year, potentially adding a new consumer play to the local stock market.

Fruitas has filed at the Securities and Exchange Commission an initial prospectus for its plan to offer up to 602 million common shares at a maximum price of P1.99 each, the company said in a press statement on Monday (Sept 9).

The offer will consist of up to 533.66 million in primary common shares plus an option to upsize by 68.34 million shares. This will bring to public hands as much as 28 percent of the retailer’s stocks./TSB