Splash IPO approved by SEC
October 16, 2007
The Securities and Exchange Commission has approved a plan of personal care products firm Splash Corp. for an initial public offering (IPO) of stock worth as much as P2.5 billion.
In documents filed with the SEC, Splash said it would offer up to 223.85 million new and existing shares at P8.70 to P11.18 each.
The sale of new shares is projected to generate P1.64-P2.11 billion.
Splash said the funds would be spent largely on acquisition of local brands in the personal care and related industries, such as health and wellness brands.
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