ePerformax to raise up to P4B from planned IPO

Contact center operator ePerformax International Inc. is planning to raise up to P4 billion for expansion plans and debt repayment, through an initial public offering scheduled for the first quarter of 2008. ePerformax is the first locally operating, Philippine-based call center to file for an initial public offering. In a statement sent to media on Wednesday, ePerformax said it will sell 155 million new shares, and 68 million existing shares in the offering. "The proceeds of the IPO will be used to finance acquisition or development of businesses, capital expenditures to support expansion, increased working capital needs, and loan repayment," the company said in its statement. ePerformax indicated the shares will be priced at P12.50 to P18.00 each, in the prospectus it filed with the Securities and Exchange Commission and the Philippine Stock Exchange. The shares will represent approximately 33.8 percent of the total issued and outstanding capital stock of the company after the IPO, ePerformax said. The company has tapped BDO Capital and Investment Corp. as the issue manager and lead underwriter for the share sale. “Being one of the pioneers in the call center industry here in the Philippines, we are privileged to be regarded as the company that would break new ground in the form of this IPO filing. Our unique positioning will furnish the investing public with a compelling growth story and a sound investment moving forward in this process," ePerformax president Teresa D. Hartsaw said. - GMANews.TV