(UPDATED) IPO Analysis: Buy Axelum Resources Corp. (AXLM)?

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SUMMARY OF ANALYSIS AND RECOMMENDATION

Recommendation: Subscribe to the Initial Public Offering (IPO) if…

We believe the IPO offer will be more attractive to investors if it is priced at … Otherwise, we would pass-up on the offer.

 

COMPANY BACKGROUND

Axelum Resources Corporation (AXLM) is a fully-integrated manufacturer of high quality coconut products for both domestic and international food & beverage manufacturers and retailers. Some of the reputable brands it supplies into include Vita Coco (CNPF group), ConAgra Foods, Nestle and Kellogg’s.

AXLM was incorporated in August 2010, with Romeo I. Chan currently acting as the chairman and CEO since 2015. Majority of its business comes from exports, accounting for 88% of total sales.

 

INVESTORS’ BRIEFING

AXLM will be having its Investors’ Briefing Roadshow in Manila, Davao, and Cebu! The Investors’ Briefing is open to the public.

Investors’ Briefing Schedule – Manila:

  • Tuesday, 10 September 2019
  • 4:00 PM (registration starts at 3:30 PM)
  • Isabela Ballroom B&C, Makati Shangri-la Hotel, Ayala Ave. corner Makati Ave., Makati City

Investors’ Briefing Schedule – Davao:

  • Wednesday, 11 September 2019
  • 3:00 PM (registration starts at 2:30 PM)
  • Lumpini Ballroom, DusitD2 Davao, Stella Hizon Reyes Drive, Bo. Pampanga, Davao City

Investors’ Briefing Schedule – Cebu

  • Thursday, 12 September 2019
  • 5:30PM (registration starts at 5:00 PM)
  • Cebu Grand Ballroom, 2F Marco Polo Plaza, Nivel Hills, Apas, Cebu City

 

AXLM IN A NUTSHELL

 

COMPANY ANALYSIS

Financial Performance

 

Use of IPO Proceeds

 

FINANCIAL HIGHLIGHTS

 

COMPARATIVE VALUATION AND FORECASTS

 

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