Home Tech Tech firm Audiowav to raise P2.66 billion (£43.43 million) through IPO

Tech firm Audiowav to raise P2.66 billion (£43.43 million) through IPO

by Paul

Technology firm Audiowav Media Incorporated plans to raise as much as P2.66 billion (£43.43 million) through an initial public offering (IPO) scheduled for this November.

In a filing with the Securities and Exchange Commission, Audiowav said it will sell up to 900 million primary common shares at an offer price of between P1.77 (£0.03) to P2.96 (£0.05) per share.

The offer shares represent 23% of the company’s total authorised capital stock after the IPO.

The company tapped SB Capital as the sole issue manager and book runner for this deal.

Audiowav said it intends to use majority of the proceeds from the IPO to fund its expansion in the evolving markets within Asia such as Malaysia, Thailand, Vietnam and China.

Risk Warning:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More