Upson International Corp., the country’s largest retailer of personal computers and information technology products, has successfully completed its initial public offering (IPO) and raised a total of P1.65 billion. The IPO was led by First Metro Investment Corporation as the issue manager, bookrunner, and joint lead underwriter.

The offering, which was oversubscribed, involved the sale of 625 million primary common shares with an overallotment option of 62.5 million secondary common shares at a price of P2.40 per share. The shares are now listed on the main board of the Philippine Stock Exchange (PSE) under the ticker symbol UPSON.

The proceeds from the IPO will be used to fund the company’s expansion plans. The successful IPO is a testament to the strength of Upson’s business model and growth prospects.

“A milestone like this is not achieved overnight. It doesn’t come together on its own either. It is the result of many people’s hard work,” said Upson president and CEO, Arlene Louisa Sy during the listing ceremony on April 3, 2023. “To our shareholders, thank you for your confidence. Your trust inspires us to continue to execute and ensure that technology is within reach of everyone, everywhere in the country.”

First Metro played a crucial role in the success of the IPO. “We are proud to have managed the issuance of Upson’s IPO and to have assisted them in achieving their capital raising objectives,” said First Metro executive vice president and head of Investment Banking Group, Daniel Camacho. “This successful listing is a testament to the strong investor interest in the technology retail sector and in companies with solid growth prospects.”

Upson International Corp. is committed to delivering value to its shareholders and building a sustainable business that addresses the evolving needs of the market. With the successful completion of its IPO, the company is well-positioned to achieve its growth objectives and deliver on its promises.

The Bureau of the Treasury (BTr) has successfully raised P283.71 billion through the 29th tranche of Retail Treasury Bonds (RTB 29) with a tenor of 5.5 years and a coupon rate of 6.125% per annum. The offer period ran from February 7 to 17, but it closed two days ahead of schedule due to the overwhelming support of investors.

The funds raised will be used to support various programs for economic resiliency, including those under the agriculture, infrastructure, education, and healthcare sectors.

To reach out to investors, regional face-to-face briefings and online channels were utilized. The traditional over-the-counter placement in bank branches and digital channels, such as the BTr Online Ordering Facility, Bonds.PH mobile app, Overseas Filipino Bank mobile banking app, and Landbank mobile banking app, received a total of P311.015 million with 2,926 transactions from 36 countries.

First Metro was one of the joint issue managers and selling agents for this fundraising activity of the national government.

National Treasurer Rosalia De Leon expressed her gratitude for the overwhelming support of the retail investors, which has been instrumental in achieving the target volume ahead of schedule. The BTr remains steadfast in developing more inclusive means to invest in government securities and pursuing reforms for the domestic capital markets.

First Metro Securities recently concluded its biggest annual stock market event, the Trader’s Playbook. The briefing was held live in Manila, Cebu and Davao, along with one virtual run. The event gathered esteemed market experts who shared their key insights about stock market investing and economic outlook for 2023, to a total of more than 1,000 participants.

This year’s theme is Investing in a New Cycle, which focuses on the tug-of-war between bears and bulls. Mhelvin Abajon, SVP and head of FirstMetroSec’s Strategic Development division, explained that this battle highlights the complexity and fluidity of financial markets and emphasizes the importance of staying informed and cautious when making investment decisions.

In his presentation, Life After the Pandemic: Going Back to Normal, guest speaker Fernand Tansingco, SEVP, treasurer & head of Financial Markets Sector of Metrobank, pointed out that the world we are currently living in is “unexpected, unusual, unprecedented and uncertain.” Considering this volatility and uncertainty, he advises that we should go back to basics when it comes to investments, which means focusing on fundamental factors such as the company’s financial performance, competitive position and the health of its industry rather than being swayed by fear of missing out or succumbing to trendy investments. “We should stay grounded in our goals and strategy and not be swayed by market hype and sensational headlines,” Mr. Tansingco said.

In his opening message, FirstMetroSec president Gonzalo Ordoñez shared, “It won’t be a flat market. This year, we expect outsized, if selected, opportunities and high risks. Which is why FirstMetroSec, through this annual event, stands by its mission to support the advancement of the Filipino investor no matter the different market challenges. This year we’re enhancing our platforms with cutting-edge investment tools such as automated trading systems, conditional orders for advanced risk management, and powerful charting and technical analysis capabilities to give our investors a strategic advantage. And in the same pursuit, we have invited industry experts in this event to empower investors to make informed investment and trading decisions.”

Mr. Ordoñez gave some advice to the attendees before closing his message: “If I may leave you with one takeaway for this year, it is to ride the uptrends, but study our stop limit orders feature and use it to protect your profits. Don’t get caught flat footed as a market turns on you if or as the bears take over.”

The event’s other speakers included Dr. Taimur Baig, PhD, managing director & chief economist of DBS Group Research; Aaron Say, an investment strategist and a long-time market consultant at FirstMetroSec; and Royce Aguilar, FirstMetroSec’s Retail Research department head and co-creator of FirstMetroSec’s Trader’s Playbook who also hosts the company’s podcast which is now with 17k followers. The virtual run was hosted by Shawn Yao, presenter & producer at One News Philippines.

The Trader’s Playbook was inspired by FirstMetroSec’s research report that features a “play of the day” stock with thorough analysis including entry and exit prices. After its successful nationwide run in 2019, it evolved into FirstMetroSec’s flagship event that serves as a dynamic learning space for both new and seasoned investors.

CAPITAL NOTES is the official newsletter of First Metro Investment Corporation published quarterly.

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