Shakey’s Philippines $110m IPO gets regulator nod

Visual from company website

Shakey’s Pizza Asia Ventures Inc (SPAVI) is all set to go public in the Philippines after the Securities and Exchange Commission (SEC) approved its initial public offering (IPO) of up to $110 million (P5.5 billion).

The company would offer 352 million primary and secondary shares priced of up to P15.58 apiece.

Shakey’s Pizza Asia Ventures maiden share offering is slated on December 2 to December 8. However, its listing date was tentatively set on December 15.

IPO proceeds would be used for the expansion of the firm’s in-house commissary, working capital requirements, potential acquisitions, and repayment of debt.

Only recently, Singapore’s sovereign investor GIC disclosed plans to sell some of its shares in Shakey’s Pizza Asia Ventures Inc.

SPAVI filed a prospectus with SEC last month to sell up to 352 million primary and secondary shares, including 46 million shares priced at P115.58 apiece, to meet excess demand.

SPAVI is majority owned by conglomerate Century Pacific Group Inc (CPGI). The pizza chain ended year 2015 with over 170 stores in the Philippines nationwide.

GIC last March teamed up CPGI to acquire for an undisclosed amount the IFFI, the owner and operator of SPAVI.

Also Read:

GIC aims to sell shares in Shakey’s Pizza Philippines IPO

Pilipinas Shell achieves $2.2b market cap in IPO debut

Philippines: Philab set for backdoor listing via $10.3m buyout deal with ALT

Philippines: Celebrity mobile gaming Xeleb Technologies bares $15m IPO goal

Cemex Holdings Philippines raises $537m in IPO debut

Golden Haven raises $16.5m from IPO in Philippine Stock Exchange

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.