Is Calata IPO a good buy with a price of 7.50 per share?

Calata Corp
Nature of Business: Agri
Price: 7.50
Offer Period: May 10 to 16
Listing Date: May 23

The Bulacan-based firm will be listing 36.012 million common shares on the PSE’s second board which represents a 20% stake in the firm.  Unicapital, Inc. will act as underwriter for the IPO, while Sy-led BDO Unibank, Inc. Trust and Investment Group will serve as stock transfer agent.

Absolute Traders, for its part, will serve as transaction adviser.

Post-IPO, the agricultural firm expects to register a market capitalization of P2.70 billion.

Calata aims to rake in net proceeds of around P242.41 million.

Of this, P109.52 million will be allotted for working capital, P102.20 million for inventory purposes, P24.28 million will be used for site developments and building structures, and P6.42 million for equipment and office suppliers.

This year, Calata plans to roll out 100 Calata Retail Stores in Luzon this in order to firm up its retail network, in addition to the 115 existing Agri Retail Stores currently in operation through the company’s affiliate, Agri Phil Corp.

source: bworld

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