The Exchange approved the application of Raslag Corp. (“ASLAG” or the “Company”) for the initial listing of up to 1,500,000,000 common shares, with a par value of Php1.00 per share, under the Main Board of the Exchange, which includes the shares subject of the Company’s Initial Public Offering (“IPO”) with the following details:
1. 1,150,000,000 common shares, representing the total number of issued and outstanding shares of the Company prior to the initial public offering of the Company’s shares; and
2. Up to 350,000,000 common shares, representing the total number of shares to be offered to the public on a primary basis.
The IPO of the Company, with an Offer Price of up to Php2.00 per share, consists of the following:
1. Primary Offering. Up to 350,000,000 common shares will be issued and offered to the public on a primary basis; and
2. Over-allotment Option of up to 52,500,000 common shares to be offered by J Ten Equities, Inc. to the public on a secondary basis.
The total Shares Under Escrow indicated above are based on the assumption that the Over-Allotment Option Shares are fully subscribed.
Attached is a copy of the signed Preliminary Offer Terms Sheet.
The Exchange’s approval of the conduct of the IPO and listing of the Company’s shares is subject to its compliance with all of the post-approval conditions and requirements of the Exchange.
The Exchange will advise the investing public of further developments on the IPO of the Company, including the conduct of stabilizing activities.
For your information and guidance. |