SEC OKs IPO of consumer electronics firm

The Securities and Exchange Commission has cleared an initial public offering worth as much as P10.7 billion planned by consumer electronics manufacturer Cal-Comp Technology (Philippines) Inc.

Cal-Comp plans to raise as much as P9.29 billion from the sale of primary shares. In case of excess demand, P1.39 billion additional shares will be sold.

The sale would run from Nov. 11-18, a schedule which has yet to be approved by the Philippine Stock Exchange (PSE)./TSB