Shakey’s gets final green light for IPO

SHAKEY’S Pizza Asia Ventures, Inc. has received the green light from The Philippine Stock Exchange, Inc. (PSE) to debut on the equities market with an initial public offering (IPO) amounting to P5.48 billion in mid-December.

The PSE has cleared the listing application of the company, Hans B. Sicat, PSE president and chief executive officer, told reporters on the sidelines of the Business-World-Philippine Airlines ASEAN Regional Forum in Conrad Manila, Pasay City on Thursday.

“We approved it this week,” Mr. Sicat said, without disclosing details.

PSE’s green light came less than a week after the Securities and Exchange Commission on Nov. 18 approved the company’s planned IPO consisting of 352 million primary and secondary shares that will be sold at up to P15.58 each.

Shakey’s registered 104 million new and 202 million existing shares for the base offer and 46 million for oversubscription.

The maximum issue will represent 23% of the 1,531,321,053 outstanding common shares of the company controlled by the Po family’s Century Pacific Group, Inc.

Deutsche Bank AG is the sole global coordinator and bookrunner of the offering, while BDO Capital & Investment Corp. and First Metro Investment Corp. serve as joint issue managers and underwriters.