MANILA, Philippines – The Philippine Stock Exchange on Tuesday, May 31, gave the go signal for North Star Meat Merchants to proceed with its P4.5-billion initial public offering (IPO).
The meat vendor will offer up to 360 million primary shares and 32 million secondary shares, with up to 58 million overallotment option shares priced at up to P10 apiece. Listing date is June 24.
North Star will be the first pure meat play in the local bourse. What are the risks and opportunities in investing in this company?
In a Business Sense interview, North Star chief executive officer Anthony Ng said the IPO will help the company keep up with the demands of retail partners like SM Markets and Waltermart.
Ng added that while inflation is always a risk alongside any global crisis, the company remains resilient.
“We all eat. You invest in North Star, you invest in something essential, the most essential of the most essential,” Ng said. – Rappler.com