5 months Coco firm plans P7.7-billion offering MB |Biz
By James A. Loyola Coconut products producer Axelum Resources Corporation is seeking regulatory approved for its planned initial public offering (IPO) worth up to P7.7 billion. In a statement, Axelum said it is a fully integrated manufacturer of coconut products including coconut water, desiccated coconut, coconut milk powder, coconut milk/cream, reduced fat coconut, sweetened coconut, coconut oil, and other coconut products for domestic and international use and distribution. The firm is planning to sell 700 million primary shares and up to 430 million secondary shares at a price of up to P6.81 per share sometime in October this year. The ... more