Ever Bilena to go public in 5 yrs

Ever Bilena Cosmetics Inc., one of the country's leading cosmetic brands, plans to go public in five years to fuel its continued expansion, top company officials said. "If growth continues, the IPO (initial public offering) may be in five years. The IPO is more to professionalize our business and for the company's expansion plan," Dioceldo S. Sy, CEO Ever Bilena told reporters Tuesday. At the sidelines of the Earnst & Young Entrepreneur of the Year Philippines 2006 awards night, Sy also said that his company is planning to expand overseas focusing in Indonesia, Malaysia and Thailand this year. "The Asean trade for cosmetics is growing. We are cheapest in the region," he said. Ever Bilena offers 1,000 verities of cosmetic, body care products, and beauty care accessories in department stores and major retail outlets nationwide. It also markets Careline, a nail polis and cosmetic brand for teenagers and young adults, and Freestyle air gel. In 2006, Ever Bilena posted a total sales of P500 million. "This year, we hope to post P600 million revenue," Sy said.-GMANews.TV