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

Visual from company website

Xeleb Technologies Inc, a newly-formed celebrity-themed mobile gaming firm, is targeting to raise up to $15 million (P730.6 million) via an initial public offering this year.

Xeleb Technologies filed a prospectus with the Securities and Exchange Commission (SEC) stating to offer up to 290 million common shares priced at P2.04 to P2.54 per share. It is a wholly-owned subsidiary of listed mobile consumer services firm Xurpas Inc.

The IPO shares will constitute 19.68 per cent of the firm’s total outstanding capital stock, and will be listed to the small, medium and emerging (SME) board of the Philippine Stock Exchange.

Also Read: Pizza chain Shakey’s Philippines targets to raise $113m in IPO

Net proceeds will be used for ongoing product development, regional expansion to Southeast Asia, and for general corporate purposes.

SB Capital Investment Corp was appointed to be the company’s sole issue manager, underwriter and bookrunner for its IPO.

Xurpas formed Xeleb Technologies last August when it consolidated Fluxion Inc and celebrity games app startup Xeleb Inc.

Also Read: Pilipinas Shell seeks $400m IPO

Fluxion is engaged in mobile and internet systems design and development of programming languages, usability and social media. Xeleb is the Philippines first mobile games company focused on the celebrity games opportunity.

Other companies who are seeking to go public this year in the Philippines are restaurant chain Shakey’s Pizza Ventures Inc (SPAVI) set at $113 million, and Pilipinas Shell Petroleum Corp aimed at $400 million.

Only last July, Cemex Holdings Philippines Inc (CHP), a subsidiary of Mexico-based cement maker Cemex, concluded its IPO in the Philippines raising up to P25 billion, while Golden Haven Memorial Park Inc owned by former Senator Manny Villar raised about P778 million when it went public last June.

Also Read:

Cemex Holdings Philippines raises $537m in IPO debut

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

Philippines: Xurpas buys Singapore-based Art of Click, Wavemaker Partners exits

Philippines: Xurpas buys out Fluxion, consolidating games app firm

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.