SSI stock rises 6.5% on first IPO trading day

Investors who took part in the initial public offering (IPO) of specialty retailer SSI Group Inc. (SSI) gained 6.5% during the stock’s first trading day.

SSI closed at P7.99 per share on November 7, the first trading day after the company’s IPO, a 6.5% increase from the offer price of P7.50.

(See also: Subscribe to the IPO of SSI and PSPC?)

The stock opened and first traded at a price of P8.01 and more than 26.2 million shares were traded on Friday.

The company raised P5 billion from the initial public offering (IPO), majority of it will be used for the company’s expansion. SSI plans to launch an online shopping store to market its imported foreign branded products and add more offline retail branches in the Philippines.

It will also use proceeds to expand the company-owned FamilyMart convenience stores and Wellworth department stores.

SSI resells 103 international brands in the Philippines, including:

  •  Hermes
  • Prada
  • Gucci
  • Burberry
  • Salvatore Ferragamo
  • Lacoste
  • Michael Kors
  • Kate Spade
  • Gap
  • Old Navy
  • Zara
  • Stradivarius
  • Bershka
  • Aeropostale
  • Samsonite
  • Nine West
  • Payless Shoe Source
  • Beauty Bar
  • Marks and Spencer
  • Pottery Barn
  • TWG

SSI also manages and operates FamilyMart convenience stores, a joint venture with Ayala Land, Inc. (ALI), Japan FamilyMart and Itochu Corporation of Japan.

It also owns the Wellworth Department Store, targeting the mid-market segment, also under a joint venture with ALI.

As of June 2014, SSI operates a total of 655 retail outlets in 68 malls nationwide.

Want to know if stockbrokers recommended that you subscribe to the SSI IPO? Read 7 Special Reports here:

About the Author

PSEi support seen at 6,200 and 6,000 amid weaker Peso

In a not-so-surprising move, the U.S. Federal Reserve (Fed) yesterday raised interest rates by 75 basis points (bps) or 0.75% in a bid to tame rising inflation in the United States. This was the third consecutive 0.75% rate hike by the Fed, which brings the federal funds rate, the central bank’s benchmark interest rate, to ... Read more

Official SWIFT Code of BDO, BPI, Metrobank, Philippine banks

When sending cash remittances or wire transfer to a bank account in the Philippines (such as BDO, BPI, Metrobank, Landbank, DBP, etc.), you’ll surely need the SWIFT Code of the bank. Look no further because you can find all the SWIFT Codes you need in this list! Make sure you’re using the right bank code ... Read more

How to Waive your Credit Card Annual Fee (BDO, BPI, Metrobank, RCBC, Citibank, UnionBank)

Without a doubt, one of the most annoying fees that credit cardholders have to pay is the annual fee. Majority of cardholders are familiar with this fee and majority of us likely pay this grudgingly year after year after year. In the case of my credit card with BPI (Bank of the Philippine Islands), I’m ... Read more

Why Filipinos do not become business owners or entrepreneurs

For a majority of Filipinos, entrepreneurship does not seem to be a typical, expected path. This is not surprising, considering that in school, students are primarily taught to become employees after graduation. Students train for years to become staff workers, reporting to a supervisor, and just waiting to receive their wages or salaries every month. ... Read more

My experience investing in Mutual Funds in the Philippines

I started investing in mutual funds when I was 22 years old. As an Overseas Filipino Worker (OFW) then, I was fortunate to be able to save some money at that young age because of my work abroad. One time while I was on vacation in the Philippines, I saw a large billboard in EDSA ... Read more

Income Tax Tables in the Philippines (2022)

The Philippines’ new tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law on December 19, 2017 and its implementation began on January 1, 2018. What are the new income tax rates under the TRAIN law? How will TRAIN affect income taxes of individuals and corporations? How is the ... Read more

PSE Stocks Performance under each Philippine President (1987-2021)

Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? From 1987 until 2018, the Philippine Stock Exchange index (PSEi) rose from 1,000 points to a peak of 9,000 points — generating a return of 800% over 30 years. (The PSEi is an index ... Read more

SSL 2022: Salary Increases for Teachers, Nurses, Gov’t Employees

Good news to all government employees! There’s a new round of salary increases beginning January 1, 2022! Millions of employees of the Philippine government — including public school teachers, nurses and staff of government hospitals, and workers in local and national government agencies, etc. — will be getting an automatic salary adjustment this 2022 under ... Read more

PSE Trading Hours in 2022: What time open, when closed?

Before you take the plunge into stock trading and investing, make sure you understand what stocks are and how the Philippine Stock Exchange (PSE) operates. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. So before you deep dive into the exciting world of stock trading, ... Read more

Price Floor and Price Ceiling of PSE Stocks

Trading bands in the PSE come in two forms: Price Ceiling, or the upper price limit, and Price Floor, or the lower price limit.

Leave a Comment