Crown Asia Chemicals Corp., manufacturer of pipes and compounds, has allotted P93.7 million for capital spending this year from the net proceeds of its P222-million initial public offer (IPO).
It said in its final prospectus for the IPO it is allocating P24.7 million for the modernization of its plants for compounds (P12.26 million) and pipes (P12.52) as well as P63.4 million for working capital, which amounts to P93.7-million capital expenditures (capex) for 2015.
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