LISTED mobile technology company Xurpas Inc. said it is still in the process of coordinating with the Securities and Exchange Commission (SEC) on the planned initial public offering (IPO) of its celebrity game operator Xeleb Technologies Inc.
“Our Xeleb IPO is still in the process as we are coordinating with (the SEC for our) regulatory requirements. From that IPO, we intend to raise P603.84 million to P751.84 million,” Erica Sarmiento, Xurpas investor relations manager, told The Manila Times in a text message.
“We’re still in the process of submitting other required documents,” she added.
Xeleb first announced its intent to list on the Philippine Stock Exchange’s Small, Medium, and Emerging (SME) Board in October last year. Under its planned IPO, it would offer 290 million common shares priced at from P2.04 to P2.54 per share.
Proceeds will be used for its ongoing product development, regional expansion, and for general corporate purposes.
Listed in 2014, Xurpas consolidated its celebrity game development business into Xeleb Technologies after it fully acquired subsidiary Fluxion Inc., an internet and mobile app developer.
Xurpas offers a complete portfolio of products and services ranging from mobile casual games, messaging, web and mobile application development, enterprise solutions and systems architecture to HR services technology platforms.
Apart from Xeleb, other IPO hopefuls this year include Eagle Cement Corp. (P9.2 billion), Cebu Landmasters Inc. (P3.8 billion), Audiowav Media Inc. (P2.6 billion), and The Big Chill Inc. (P500-600 million).
The SEC earlier approved the IPO applications of Pure Energy Holdings Corp. (P1.58 billion), Mazda dealer Bermaz Auto Philippines Inc. (P1.24 billion), and Wilcon Depot Inc. (P7.9 billion)