• Philippine computer retailer Upson International says it is looking to price its initial public offering on Feb. 28 as it obtained the local bourse’s approval, subject to certain post-approval requirements, for the 4.88b-peso initial share sale.
• Offer period is targeted for March 6-10, with listing tentatively set for March 16, it says in a statement.
• Philippine Stock Exchange approved the company’s plan to sell as many as 789.5m primary common shares for as much as 5.50 pesos each.
• Another 98.7m common shares will be sold by a selling shareholder, with additional 98.7m secondary shares as overallotment.
• Upson plans to use the proceeds to expand its store network and open 250 branches from 2023 to 2027, company says.