Xurpas lowers IPO price, to raise $30.4m

Visual from the Xurpas website

Philippine mobile content giant  Xurpas Incorporated has priced its initial public offering (IPO) below the ceiling as it amiss to raise $30.4 million (P1.37 billion) from its maiden share sale.

The digital products developer has got clearance from the Philippine Stock Exchange (PSE) for its float, and a notice on its exchange said Xurpas’s final IPO price was at P3.97 apiece lower than the previous quote of P4.19 per share. The final price was also far below its original offering of P41.86.

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