Gaming firm Xeleb plans P736.6-M IPO in December
Gaming firm Xeleb plans P736.6-M IPO in December
The Xurpas subsidiary plans to offer 19.68% of its outstanding stock to fund product development and regional expansion into Southeast Asia

MANILA, Philippines – Celebrity gaming firm and Xurpas subsidiary Xeleb Technologies Incorporated (Xeleb) announced plans to raise a maximum of P736.6 million through an initial public offering (IPO) of common shares on the Philippine Stock Exchange (PSE) by December.

The company filed its registration statements and prospectus with the Securities and Exchange Commission (SEC) on Friday, October 7, to offer up to 290,000,000 common shares at an offer price range between P2.04 and P2.54 per share.  

The IPO shares will represent 19.68% of the company’s total outstanding capital stock and will be applying to list on the PSE’s Small, Medium, and Emerging (SME) Board.

The firm said it plans to use the net proceeds for ongoing product development,  expansion into Southeast Asia, and for general corporate purposes.

Xeleb is a subsidiary of Xurpas Incorporated. It is known primarily as producer of casual celebrity-themed mobile games with a current portfolio of games that feature Anne Curtis, Alejandro “Kuya Kim” Atienza, Isabelle Daza, Erwan Heussaff, and Sarah Geronimo.

These celebrities are also shareholders in the firm and combined, they command an audience on social media in excess of 50 million people.

The firm was originally founded in 2001 as Fluxion Incorporated, which was then primarily focused on providing wireless technologies and software/hardware tools design.

In 2005, Xurpas purchased 65% of the company and incorporated it as a subsidiary after its successful listing in December 2014.

Earlier this year, Fluxion and Xeleb underwent restructuring to consolidate the resources required for ongoing product development under Xeleb. This resulted in Fluxion owning 67% of Xeleb, and Xurpas buying the remaining 35% stake of Fluxion, and renaming it Xeleb Technologies Incorporated. 

Similar to its parent company Xurpas’ (PSE:X) 2014 IPO, Xeleb has tapped SB Capital Investment Corporation as the sole issue manager, underwriter, and bookrunner for its IPO.

Aside from Xeleb, Shakey’s Philippines also recently announced plans to go public this year. –

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