Fruitas Holdings, Inc. (stock symbol: FRUIT) has their initial public offering (IPO) of the food and beverage kiosk operator was 2.67x oversubscribed. FRUIT raised Php 1.01 billion from the sale of its primary shares.
The local small investor segment of the IPO, which is 10 percent of the offer shares, had a 91.3 percent subscription rate. In his welcome remarks during the listing ceremony, PSE Chairman Jose T. Pardo said, “I think this is a product of brand familiarity among retail investors. It’s not far-fetched that the LSIs who subscribed to the IPO are also the regular patrons of Fruitas, Jamaican Pattie, Johnn Lemon, Buko Loco, and all the other brands of the company.”
FRUIT carries more than 20 food and beverage brands and has over 1,000 stores all over the country.
Shown in photo (from left): FRUIT Directors Bambi Maureen E. Donato, Irene O. Chua, Dennis T. Beng, and Shirley O. Tan; FRUIT Chief Financial Adviser Calvin F. Chua; FRUIT Chairman Rogelio M. Guadalquiver; FRUIT President and CEO Lester C. Yu; PSE Chairman Jose T. Pardo; PSE President and CEO Ramon S. Monzon and PSE COO Atty. Roel A. Refran.#