Juice stall company Fruitas files for ₱1.2 billion IPO plan

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Metro Manila (CNN Philippines, September 9) — Popular fruit-juice stall operator Fruitas Holdings, Inc. (Fruitas) bared plans to offer shares of stock on the Philippine Stock Exchange.

In a press statement Monday, Fruitas said that it has filed with the Securities and Exchange Commission its ₱1.2 billion initial public offering (IPO).

More than 533 million common shares would be offered at a maximum price of ₱1.99 each.

"The proceeds will be used to fund our store network expansion across the Philippines and expand our commissary to serve more customers," said Fruitas President and CEO Lester Yu.

Fruitas expected its offer to push through from November 18 to 22 this year, and to be listed by the yearend.

Fruitas had 949 stores nationwied as of end-June. It reported a consolidated revenue of ₱1.58 billion for 2018.

Beverage brands under its portfolio include Fruitas Fresh From Babot’s Farm, Buko Loco, Juice Avenue, Buko Ni Fruitas, Johnn Lemon and Black Pearl.

Fruitas also runs two food parks in Quezon City: Uno Cinqueta and Le Village The Lifestyle Park.

It acquired Negril trading, the company operating De Original Jamaican Pattie Shop and Juice Bar, and the assets of Sabroso Lechon.