What are the top IPO stock tradings in 2023 after the pandemic?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Several initial public offers (IPOs) have prospered in the local stock exchange in earlier years. There are organizations that have

gone public as a way of attaining their goals including expansion, acquisitions, and innovation even against apparent market

uncertainty, especially with the present pandemic hurting the economy significantly.

 

The Philippine Stock Exchange (PSE) has seen the following major initial public offerings (IPOs) over the previous five years.

 

• MerryMart

Despite the catastrophe that the pandemic caused, four initial public offerings (IPOs) took place last year. Edgar “Injap” J. Sia’s

grocery chain MerryMart Consumer Corp. (PSE: MM), which is owned by Edgar, went public for the first time in that difficult year

on June 15.

 

1.59 billion shares were made available to the public as part of its P1.6 billion initial public offering (IPO), and it ended its first

trading day at P1.50 per share. As the lead underwriter, issue manager, and bookrunner for the offering, PNB Capital and

Investment Corp. (PNB Capital) performed these roles. The supermarket chain operator expects to have 1,200 locations

throughout the nation by 2030, with the first 100 of those locations opening as early as the fourth quarter of 2021.

 

• APVI

Altus Property Ventures, Inc. (PSE: APVI), which entered the stock market on June 26 by way of introduction and did not

immediately make its shares publicly available, came after MerryMart’s IPO.

 

The first share price for the initial public offering (IPO) of the real estate firm that was formerly a division of Robinsons Land Corp.

(RLC) was P10.10. On its first day of trading, shares peaked at P240 per share and ended at P18.50 each. The financial adviser

for this offering was chosen to be First Metro Investment Corp. (First Metro).

 

• AREIT, Inc.

The first real estate investment trust (REIT) offering in the nation was made last August by AREIT, Inc. of Ayala Land, Inc. (PSE:

AREIT), with a P12.33 billion offering. Despite falling from P27 to P24.90 on its first trading day on August 13, it had a twofold

oversubscription by the time the offer period closed on August 3.

 

The sole global coordinator and joint bookrunner for the offering were BPI Capital Corp. (BPI Capital). The domestic underwriters

were BPI Capital, PNB Capital, and SB Capital Investment Corp., with UBS AG Singapore Branch acting as the only international

bookrunner.

 

The proceeds from the offering will be used by AREIT, Inc. to purchase Teleperformance Cebu and to make investments in other

real estate properties in Metro Manila and other important areas. The company’s portfolio includes the 24-story commercial

building Solaris One, the mixed-use development Ayala North Exchange, and the five-story commercial office building McKinley

Exchange.

 

• Converge ICT

Converge ICT Solutions, Inc. (Converge ICT), a fiber Internet service provider, launched its IPO on October 26 amid increased

efforts by telcos to address the rising demand for connection. Converge ICT’s first public offering, which totaled P29.08 billion and

offered up to 1.51 billion common shares at P16.80 apiece, was the largest offering to date. This amount is higher than the

P28.11 billion raised in 2013 by Robinsons Retail Holdings, Inc.

 

BDO Capital & Investment Corp. (BDO Capital) was chosen as the joint local underwriter and joint bookrunner for the IPO, while

BPI Capital served as the sole local coordinator, joint local underwriter, and sole bookrunner. Among the local underwriters who

are participating are First Metro and PNB Capital.

 

About 90% of the net proceeds from the offering will be used by Converge ICT (PSE: CNVRG), owned by Pampanga-based

entrepreneur Dennis Anthony H. Uy, to finance capital expenditures as it grows nationally. Currently, its services are available throughout Luzon, particularly in Metro Manila.

 

• Fruitas

Fruitas Holdings, Inc., a company that operates fruit and beverage kiosks, entered the market in 2019. (PSE: FRUIT). Fruitas

shares debuted at P1.82 per share, up 8% from P1.68 per share in its initial public offering. The stock rose as high as P2.45

before ending at P1.71 per share. With an over-allotment option of up to 68,340,000 outstanding common shares, the business

offered 533,660,000 primary common shares.

 

As joint issue managers, bookrunners, and lead underwriters for the offering, BDO Capital and First Metro were chosen.

 

Fruitas hopes to raise P1.2 billion through the IPO, which the company would use to pay off debt and finance

its expansion goals, acquisitions, and introduction of fresh ideas. Fruitas has set a goal to open 150 to 250 outlets annually over

the following three years ever since the IPO got underway.

 

• DMWAI

In spite of market volatility, D.M. Wenceslao & Associates, Inc. (DMWAI) was one of the businesses that went public in 2018.

DMWAI (PSE: DMW) intends to sell 679.17 million shares under its P17.89 billion initial public offering at a price of P22.90 per

share, with an over-allotment option of up to 101.88 million shares.

 

Maybank King Eng Securities Pte. and BPI Capital Ltd. were chosen to serve as the offer’s joint worldwide coordinators and

bookrunners; the latter also served as the international lead manager and underwriter. DMWAI planned to use the net proceeds

of the issuance to finance its projects in the 204-hectare Aseana City in Paranaque City.

 

• Wilcon Depot

Wilcon Depot, Inc. (PSE: WLCON), a retailer of building supplies and home improvement products, made its debut on the stock

market in 2017 with a P7.92 billion initial public offering (IPO) that included about 1.4 billion common shares priced at P5.68 each.

For the initial share offering, the store recruited First Metro as the issue manager and bookrunner and BDO Capital as a joint lead

underwriter.

 

Wilcon anticipated making P7.58 billion from the IPO at the top price. Prior to 2018, it planned to allocate P500 million for general

company purposes, P972.4 million for debt repayment, and P6.11 billion for store network growth.

 

• Cemex

Cemex Holdings Philippines, Inc. (PSE: CHP), the Philippine subsidiary of Mexican cement and building materials giant Cemex

S.A.B. de C.V., was the largest initial public offering (IPO) in 2016 previous to Converge ICT, raising P25.1 billion at a price of

P10.75 per share.

 

The business planned to use the net revenues from the IPO to pay off short-term obligations so that it could use internally

produced money to finance the $300 million expansion of its Solid Plant in Antipolo City, Rizal.

 

 

 

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