• AudioWav outlines expansion plans after IPO

    0

    INFORMATION technology firm AudioWav Media Inc. (WAV) said it will invest in its Asean expansion strategies and existing services using the fresh funds to be raised from its upcoming initial public offering (IPO).

    Aside from its plan to expand in China, Indonesia, Thailand and Vietnam, WAV said recently it also plans to grow its offerings with services such as point-of-purchase advertising called WAV Sphere.

    WAV Sphere allows the company’s client to maximize establishment and store space through the placement of promotional messages in its WavSound and WavSight devices. The service enables the client to choose whether they would allow other companies —usually in the fast moving consumer goods (FMCG) sector—or partner firms to make use of establishment space and advertise their products and services to their targeted customers.

    The WAV Sphere service is operated by WAV’s subsidiary Wavhub Inc. It said revenues from this service will come from time rates competitive with advertising placement rates by traditional advertising venues or channels.

    WAV targets to raise revenue streams from WAV Sphere by entering separate agreements with suppliers and providers for FMCG firms including fast food chains, restaurants, hotels, malls, supermarket and convenience stores.

    One notable client of the WAV Sphere service is Mercury Drug, the largest drugstore chain in the country with 1,030 stores nationwide.

    The company’s services also includes WAV Atmospheric, which offers sensory branding tools such as synchronizing music, scent and/or signages for precise branding requirements; WavSound, which uses playing of customized music and audio messages in accordance with the businesses’ specifications; and WavSight, which involves display of visual content on digital screens in strategic locations.

    WAV expects net proceeds from its IPO to reach as much as P2.4 billion, which will be used in its regional expansion (P1.7 billion); investment in research and development (P209.97 million); and other general corporate purposes (P481.72 million). Expenditures related to the development of WAV Sphere will be under corporate purposes.

    The tech firm will offer 900 million common shares at P1.77 to P2.96 per share, to raise as much as P2.67 billion during the maiden offer.

    WAV is still awaiting regulatory approval from the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) for its public offering.

    The company will list on the PSE’s Small, Medium and Emerging (SME) Board with the ticker symbol WAV. SB Capital Investment Corp. is the sole issue manager, bookrunner and underwriter for the IPO.

    Established in 2003, Audiowav provides creative instore entertainment, advertising, marketing and media solutions to large and small store chains in the Philippines.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Comments are closed.