Press Release

Balai ni Fruitas IPO secures nod of PSE

The Philippine Stock Exchange (PSE) has approved the P309.37-million initial public offering (IPO) of Balai ni Fruitas Inc., a company engaged in fruit-based beverages and desserts and baked goods.

The company will list on the small, medium and emerging board of the PSE under the trading symbol BALAI.

Balai’s shares will be sold at a price of up to P0.75 apiece from June 17 to 23. The company will offer up to 325 million primary shares and 50 million secondary shares with up to 37.50 million over-allotment option shares. The final offer price will be determined on June 14, after the company conducts its book building exercise.

“We are on track to have the most number of SME Board listings in a year with the IPO of Balai ni Fruitas. The company’s debut will also expand the mix of SME firms listed as Balai is the first food and beverage business to list on this board,” PSE President and CEO Ramon S. Monzon said.

Net proceeds from the sale of the primary shares of about P220.4 million will be used by the company for store network expansion, commissary setup and introduction of new concepts and potential acquisitions.

Meanwhile, assuming the oversubscription option is fully exercised, the selling shareholder can net up to P65.6 million from the sale of the secondary shares.

Article Reference: https://businessmirror.com.ph/2022/05/30/balai-ni-fruitas-ipo-secures-nod-of-pse/

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