BY UNICAPITAL SECURITIES
The owner of Gweilo’s bar and Mario’s Kitchen is gearing up for the sale of its shares to the public.
It will be selling 75 million primary common shares, representing 47% of its outstanding and issued common shares, at an offer price of PHP 1 per share and will be listed on the Small, Medium and Emerging Board of The Philippine Stock Exchange (PSE).
Asian Alliance Investment Corp was tapped as the issue manager and lead underwriter of the offering.
Net proceeds of PHP 66.22 million will be used to finance the expansion and renovation of company-owned outlets, implementation of catering service, adoption of a unified management information system, and payment of advances to its shareholder.