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Fruitas secures PSE approval for IPO

MANILA, Philippines – The Philippine Stock Exchange Inc. has approved the initial public offering (IPO) plan of leading food & beverage kiosk operator, Fruitas Holdings Inc. (FHI) who is set to list shares on November 29, 2019.

Fruitas Holdings Inc. will offer up to 533,660,000* firm shares with an over-allotment option of up to 68,340,000 shares at a maximum price of P1.99 each or up to P1.2 billion in total. FHI’s pricing announcement will be on November 14, with the offer period to run from November 18 to November 22. 

FHI, which will use the ticker FRUIT, intends to use the proceeds to fund its store network expansion and improvement, acquisitions, new concept introductions, and debt repayment.

First Metro Investment Corporation and BDO Capital & Investment Corp. have been appointed as Joint Issue Managers, Joint Bookrunners, and Joint Lead Underwriters for the offering.

Over the past years, FHI has aggressively expanded from more than 400 stores at the end of 2016 to 949 stores as of June 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.

*The stated amount represents the maximum number of shares, consisting of 533,660,000 Firm Shares and 68,340,000 Over-allotment Option Shares, to be offered by the Issuer to the public, fully subscribed at the maximum offer price of P1.99/share. The final terms and conditions of the offer which includes the final number of shares and price will be determined at the end of the bookbuilding period and announced on the pricing announcement date.


Fruitas Holdings Inc. is one of the largest food and beverage kiosk operators 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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