Shakey's Pizza to enter PHL bourse through IPO
Aiming to raise more that P5.5 billion (US$113 million).
Shakey’s Pizza Ventures is planning an initial public offering in the Philippine Stock Exchange before the year ends.
The company filed a prospectus with the Philippine Securities and Exchange Commission (SEC) to sell up to 352 million primary and secondary shares, including 46 million shares at P115.58 apiece. The offer price is set to be finalised in November, with its projected listing following in December.
Shakeys said that it intends to use the funds raised to expand its in-house commissary, meet working capital requirements, look at potential acquisitions and repay debt.
The chain has appointed Deutsche Bank as sole global coordinator and bookrunner for the deal, while BDO Capital and Investment Corp, and First Metro Investment Corp will serve as joint lead managers and underwriters. Evercore will be the financial adviser.
