<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=shakey%27s" target="_blank">Shakey’s Pizza Asia Ventures Inc (SPAVI)</a> raised up to $80 million (P4 billion) in its initial public offering (IPO) debut on the Philippine Stock Exchange (PSE).</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=shakey%27s" target="_blank">Shakey’s Pizza Asia Ventures Inc (SPAVI)</a> raised up to $80 million (P4 billion) in its initial public offering (IPO) debut on the Philippine Stock Exchange (PSE).
Under the ticker PIZZA, the restaurant chain operator offered up to 352 million primary and secondary shares priced at a minimum P11.26 per share, which increased as high as 7.82 per cent to P12.14 in its opening trade on December 15, and closing at P12.10 apiece.
Although SPAVI did not reach its maximum target of P15.58 per share, it surpassed its minimum goal figures despite the market went down 1.05 per cent. Its listing is now the fourth and final IPO this year at PSE.
SPAVI president Vicente Gregorio told the press that the company aims to have around 250 to 300 stores over the next three to five years.
He noted the company currently has 177 stores and could end year 2016 with over 184 stores, setting its focus in the Visayas and Mindanao regions.
Besides Asia, SPAVI owns the rights to the Shakey&#8217;s brand for Middle East, China, Australia and Oceania markets.
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Shakey's Philippines raises $80m in IPO debut

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Shakey's Philippines raises $80m in IPO debut

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