Taiwan firm Cal-Comp refiles paper for its IPO later this year

TAIWANESE firm Cal-Comp Technology (Philippines) Inc. has refiled its registration statement with the Securities and Exchange Commission (SEC), hoping to become public also before end of the year. 

Cal-Comp in its filing said it will offer some 371.42 million shares for its primary offering with an overallotment option of 55.71 million secondary shares for up to P25 apiece, or raising a total of P10.68 billion. 

The company expects to net P8.8 billion from the maximum offer, 40 percent of which will be used for facilities expansion, 30 percent for capital expenditure, 15 percent for debt repayment, 12 percent for research and development and 3 percent for working capital. 

Proceeds from the overallotment option amounting to P1.32 billion will go to the selling shareholder Kinpo International (Singapore) Pte. Ltd.

Read More: Business Mirror