Philab starts global IPO roadshow

Philab Holdings Corp. has embarked on a global roadshow ahead of its planned initial public offering ( IPO) slated later this month.

The company plans to raise about P3.4 billion from the share sale.

Philab CEO and president Tom Navasero went to the US early this month to meet global investors regarding the firm’s growth strategy, including its pioneering work in medical home test kits.

“Global investors in the US remain focused on quality growth stories,” said Mark Decker, founder and CEO of institutional equities broker Decker & Co., which is hosting Philab on its first US roadshow.

Decker said the company is honored to host Philab in Singapore and Hong Kong where investors are particularly interested in the company’s consumer health services angle.

For the follow- on share offering, Decker & Co. is the sole selling agent on behalf of Philippine Commercial Capital Inc. (PCCI), the sole issue manager underwriter and book runner. The transaction is expected to close later this month.

Established in 1958, Philab is a pioneering and leading Philippine supplier of life science equipment to healthcare, Pharma, and other industries for almost six decades. It is now evolving as a first-mover in the Philippines in the area of affordable healthcare equipment.

The company provided the Department of Health with affordable in vitro diagnostic test kits that can detect the dengue virus. In the coming weeks, Philab plans to launch its LABit Dengue Fever Self-test Kit to enable users to perform self-tests in their own homes.