MANILA, Philippines– International stocks trader CTS Global Equity Group, Inc. is aiming to raise as much as P1.4 billion through an initial public offering to scale up its operations.
The Securities and Exchange Commission said CTS Global filed its registration statement last December 14 for the IPO of 1.375 billion common shares at an offer price of P1 per share.
The shares will be listed and traded on the Small Medium and Emerging Board of the Philippine Stock Exchange.
Offer period is expected to start February 21, 2022, while listing of shares will be on March 9.
The company engaged SB Capital Investment Corporation as the issue manager, underwriter, and bookrunner for the transaction.
As of September 30, CTS Global’s total assets amounted to P856.77 million.
In the first nine months of 2021, CTS Global’s revenues amounted to P107.7 million, 32.5% higher than the same period a year ago.
Meanwhile, its net income from January to September reached P27.1 million, 207% higher than the same period last year. – Rappler.com