XELEB Technologies Inc., the celebrity game developer of listed technology firm Xurpas Inc., is seeking to raise as much as P736.6 million in fresh funds from a planned initial public offering (IPO) targeted in December.
Proceeds of the maiden share offer will mostly finance its game development operations and expansion in the Southeast Asian region.
Xeleb said on Tuesday it filed its registration application with the Securities and Exchange Commission (SEC), indicating its plan to offer up to 290 million common shares at a price range of from P2.04 to P2.54 per share.
The company seeks to list on the Small, Medium, and Emerging (SME) Board of the Philippine Stock Exchange (PSE) with the ticker symbol XLB. After the listing, the company will have public float of 19.68 percent.
“Xeleb plans to use the net proceeds for ongoing product development, regional expansion to Southeast Asia, and for general corporate purposes,” the company said.
Xeleb tapped SB Capital Investment Corp. as the sole issue manager, underwriter, and bookrunner for the transaction, the same investment banking house employed by its parent Xurpas for its 2014 IPO.
Xurpas has consolidated its celebrity game development business into Xeleb Technologies after acquiring Fluxion Inc., whose business is complementary to that of Xeleb Inc. Xeleb is a celebrity-branded and themed casual games company owned by Xurpas.
Its portfolio includes games co-developed with some local celebrities such as Anne Curtis-Smith, Alejandro
“Kuya Kim” Atienza, Isabelle Daza, Erwan Jean Heussaff, and Sarah Geronimo. Combined, the games collect a following of close to 50 million fans.
Xeleb is leveraging on the fastest-growing mobile consumer sector, with product offerings catered to the mobile users not just in the Philippines but also across the Southeast Asian region.
Parent Xurpas specializes in the creation and development of digital products and services for mobile end-users, as well as the creation, development and management of proprietary platforms for mobile operators. It has two business segments: mobile consumer gaming and enterprise services.