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Fruitas Holdings Inc. obtains SEC pre-effective clearance for IPO

MANILA, Philippines – Leading food & beverage kiosk operator, Fruitas Holdings Inc. (Fruitas), has secured Securities and Exchange Commission (SEC) pre-effective clearance on October 17, 2019 for its planned initial public offering (IPO) to fund its store network expansion and improvement, acquisitions, new concept introductions, and debt repayment.

The IPO will have a base offer of a maximum 533,660,000 primary common shares with an over-allotment option of up to 68,340,000 outstanding common shares at a maximum price of P1.99 each, raising up to P1.2 billion.

“We are thankful to the SEC for granting pre-effective clearance for our IPO as this will allow us to serve our products to more Filipinos, source more raw materials, employ more people and contribute to the growth of the Philippine economy.” Fruitas Founder and Chief Executive Officer, Lester Yu said.

The IPO allows the investing public to partake up to 28.2% of the company’s total issued common shares. It also facilitates the company’s listing on the Main Board of the Philippine Stock Exchange (PSE).

Fruitas is targeting an offer period from November 18 to 22 in time for the company’s intended listing on November 29. BDO Capital & Investment Corp. and First Metro Investment Corporation have been appointed as joint issue managers, bookrunners and lead underwriters for the offering.

“Going public will further strengthen our position as the leading food & beverage kiosk business player in the country and broaden the opportunities for growth,” Yu said.

Over the past years, the Group has aggressively expanded from more than 400 stores at the end of 2016 to 949 stores as of Jun 30, 2019. In 2018, Fruitas reported P1.58 billion in consolidated revenue, a 37% increase from its P1.15 billion revenue in 2017, which was driven by strong performance of its stores.

Fruitas currently has over 20 brands in its portfolio, including household names like Fruitas Fresh From Babot’s Farm, Buko Loco, Juice Avenue, Buko Ni Fruitas, Johnn Lemon, Black Pearl, and food parks like Uno Cinquenta in Maginhawa and Le Village The Lifestyle Park in E. Rodriguez Sr. both situated in Quezon City. Fruitas also acquired Negril Trading, the company housing De Original Jamaican Pattie Shop and Juice Bar in 2015 and the assets of Sabroso Lechon in 2018.



Fruitas Holdings Inc. is the leading group in the food cart industry in the Philippines. Since the first Fruitas stall opened in 2002, the group now has over 900 stores all over the country and over 20 brands in its portfolio, which includes well-loved food concepts Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie Shop and Juice Bar, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, The Mango Farm, 7,107 Halo Halo Islands, Shou Hand Pulled Noodles, and Sabroso Lechon.

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