• SB Capital sees 2-3 mid-cap IPOs in 2016


    SB Capital Investment Corp., the investment banking arm of Security Bank Corp., said two to three mid-cap firms were planning their market debuts next year.

    “We’ll probably have two to three more [initial public offerings]next year. Right now, we’re doing more mid-caps,” Emilio Federico “Ricky” Galang, president of SB Capital, said last week.

    SB Capital said it will serve as underwriter for these client firms that are planning to conduct their IPOs next year, adding this does not include Pointwest Technologies Corp., which is planning to raise as much as P2.09 billion from a public offering.

    SB Capital and Maybank ATR Kim Eng Capital Partners Inc. are the joint issue managers, underwriters, and bookrunners for Pointwest’s IPO.

    Galang said the investment bank prefers engaging with mid-cap IPO deals given their growth potential as “emerging blue chips” along with the acceleration of the country’s economy.

    “Without them, this economy is not going to grow. [People should] expect more mid-cap [deals]from us,” the SB Capital president said.

    Some of the offerings that SB Capital has underwritten in the past included Xurpas Inc.’s P1.4 billion IPO in December last year, Cirtek Holdings Philippines Corp.’s follow-on offering just last month, and another follow-on offering of Integrated Micro-Electronics Inc. worth P1.6 billion in December 2014.


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