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PSE clears Figaro Coffee Group’s IPO

Figaro Coffee Group, Inc. (FCG), the last company to conduct an initial public offering (IPO) for 2021, is selling 1.26 billion primary shares and up to 126 million over-allotment shares after securing Philippine Stock Exchange (PSE) approval for its offering.

FCG’s shares will be sold at a price of up to Php1.28 per share. The final offer price will be determined on December 10, 2021 after the company conducts its book building process.

The company’s offer period is scheduled from December 16 to 22, 2021 while its tentative listing date is set on December 31, 2021.

“We are pleased that this year’s fund raising pipeline will be capped with an IPO. This shows that despite the pandemic, companies new to the stock market have the opportunity to raise capital through equity financing. We are looking forward to supporting FCG in its IPO as it aims to raise funds for expansion,” said PSE President and CEO Ramon S. Monzon.

Ten percent of FCG’s firm offer shares will be reserved for local small investors (LSIs), who may subscribe to the IPO through the PSE EASy website or mobile application.

For more information on FCG’s IPO, investors may visit the Listing Notices section of the PSE EDGE website (http://edge.pse.com.ph).

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