The SEC has cleared the PHP 4.34 billion Initial Public Offering (IPO) of Upson International Corporation (UIC). Upson International\u2019s IPO covers PHP 3.28 billion split between up to 789.47 million common shares and up to 98.68 million secondary common shares to be sold at PHP 5.50 each. Should investor interest remain robust, Upson International has an overallotment option of 98.68 million common shares.<\/p>\n\n\n\n
Proceeds will be used for store network expansion and general corporate purposes. The offer shares will be listed and traded under the ticker symbol UPSON.<\/p>\n\n\n\n
About the Company: Upson International Corporation is a leading retailer of IT-related merchandise including a wide range of hardware and software products. Upson International retails under the brand names Octagon Computer Superstore (Octagon), Micro Valley, and Gadget King.<\/p>\n\n\n\n
The company has established partnerships with well-known brands such as Sony, Samsung, Dell, and HP among others. As of 1Q2022, Upson International has a total of 188 store branches, of which 22 are stand alone stores, while 166 are mall-based stores. Regional network of stores is found in the National Capital Region (60), North Luzon (32), South Luzon (35), Visayas (23), and Mindanao (38). The company also leases six warehouses in Manila, Cebu, Cagayan de Oro and Davao City.<\/p>\n\n\n\n
We will follow with more details once we do a deeper analysis of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"
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