Figaro files bid to raise P1.77B through IPO | Inquirer Business
Close  

Figaro files bid to raise P1.77B through IPO

/ 11:39 AM November 04, 2021
Figaro Coffee Group Inc

Figaro Coffee Group Inc | Photo courtesy of Figaro Coffee Group Inc’s Official Website

MANILA, Philippines—Food retailer Figaro Coffee Group Inc. has filed an application to raise as much as P1.77 billion from an initial public offering.

Figaro plans to offer up to 1.26 billion common shares at an offer share of up to P1.28 per share, with an option to upsize by 126 million additional shares, according to a prospectus dated Oct. 24 filed at the Securities and Exchange Commission.

ADVERTISEMENT

Net proceeds will fund new store openings and renovation, commissary expansion, debt repayment, IT infrastructure and potential acquisitions in the coming years.

Figaro has mandated Abacus Capital & Investment Corp., China Bank Capital Corp. and PNB Capital and Investment Corp. as joint issue managers, lead underwriters and bookrunners for this equity deal.

FEATURED STORIES

Figaro, which has been doing business for over 25 years, operates retail restaurants with 90 branches nationwide and selected offshore markets.

As of September, it operates 52 Figaro coffee shops, 31 Angel’s Pizza outlets, five Tien Ma’s Taiwanese cuisine restaurants, one TFG Express outlet, and one Café Portofino outlet.

TSB

Subscribe to our business newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
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, coffee shop, Figaro, IPO, Securities and Exchange Commission, Stock Market
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 1997-2022 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.