• Xurpas to earn P379M in 2015

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    Soon-to-be listed mobile content provider Xurpas Inc. is projected to rack up P379 million in net income for 2015 on the back of a fast-growing smartphone market.

    Martin Villalon, SB Capital Investment Corp. director, said in a briefing on Friday that that SB Equities Inc., a subsidiary of Security Banking Corp., made the forecast on Xurpas’ growth based on the growing data and smartphone usage not only in the Philippines but also in Southeast Asia.

    “The SB Equities’ projection of Xurpas’ net income for 2015 is P379 million. The total market capitalization of Xurpas given a stock price of P3.97 is 18 times the SB Equities’ net income projection of P379 million for 2015,” Villalon said.

    SB Capital Investment Corp. is the sole issue manager and lead underwriter of Xurpas’ P1.37-billion initial public offering (IPO). First Metro Investment Corp. and Unicapital Inc. are joining as co-lead underwriters. Philippine Commercial Capital Inc., PentaCapital Investment Corp., and Abacus Capital & Investment Corp. are participating underwriters.

    “The more people who are connected to the Internet, the larger Xurpas’ market becomes as all their games require Internet access,” Villalon said.

    “Also, the more powerful phones people have, the more they want to do things with it beyond simple calls and texts. So the more smartphones there are, the more demand there is for Xurpas’ digital products,” he added.

    Earlier, Xurpas has set the price of its IPO at P3.97 after securing a nod for its debut from the Philippine Stock Exchange. The final price is lower than the P4.19 quoted earlier. The sale period is set on November 17 to 25, and the listing date target is on December 2.

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