Photo by Allie Smith on Unsplash IPO fans and traders today rejoice once again after the latest initial public offering in the Philippine stock market opened at 8% higher than the initial price. Fruitas seems to be a relief after the last two IPO which failed to make a good short term return at the open. Until today Axelum Resources, Inc. is still trading below their IPO price level and All Home Corp is near its initial price. Let's discuss a little bit of FRUIT's background. Fruitas Holdings, Inc. opened its first store at SM Manila last 2002 which then grew into more than 800 stores around the Philippines. It expanded to several brands including Buko Loco, De Original Jamaican Pattie Shop and Juice Bar, Juice Avenue, Johnn Lemon, Black Pearl, Buko Ni Fruitas, and Fruitas Ice Candy. In their IPO prospectus, the initial public offer proceeds will be used majority for expansions and acquisitions although some will be to pay up existing debts. I've seen several ...
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