Shakey’s to go public, hopes to raise P5.5-B in IPO | mb.com.ph | Philippine News
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Shakey’s to go public, hopes to raise P5.5-B in IPO

Shakey’s Pizza Asia Ventures Inc. (SPAVI) will debut at the Philippine Stock Exchange with plans to raise up to P5.5 billion via initial public offering (IPO) this year.

pepper.com | 2016.mb.com.ph

pepper.com | 2016.mb.com.ph

SPAVI has filed documents with the Securities and Exchange Commission (SEC) to sell around 352 million primary and secondary shares, including 46 million shares to cater for extra demand, at a maximum price of P15.58.

If the IPO price is finalized in November, the company will be listed at the local bourse in December.

Shakey’s, famed for its signature thin-crust pizza, is recognized globally as the original pizza franchise in the United States. It first opened in the Philippines in 1975.

With 177 stores all over the country, SPAVI own the Philippine rights to the Shakey’s trademark.

Aside from the Philippines, the company also owns perpetual rights to the Shakey’s brand in Middle East, Asia (excluding Japan and Malaysia), China, Australia and Oceania.

Evercore acts as SPAVI’s exclusive financial adviser. Deutsche Bank AG had been tapped for the deal as sole global coordinator and bookrunner, with BDO Capital and Investment Corp. and First Metro Investment Corp. tasked as joint lead managers and underwriters.