The Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of brokerage firm CTS Global Equity Group, Inc. worth up to 1.38 billion pesos.
The En Banc Commission has decided to make CTS Global’s registration statement for 6.88 billion common shares effective, subject to the Company’s compliance with certain remaining requirements.
CTS Global will offer to the public up to 1.38 billion common shares at a price of up to P1 per share, which will be listed on the Small, Medium, and Emerging Board of the Philippine Stock Exchange, Inc. (PSE).
Net proceeds from the offering are expected to be approximately 1.35 billion pesos, which the company will use for scaling its global business operations, expanding customer account management and general business purposes. of the company.
CTS Global is engaged in stock trading as a broker for the Philippine market, as well as global markets including the United States, China, Hong Kong and Japan.
Its chairman, Edward K. Lee, is also chairman of the publicly traded brokerage firm COL Financial Group, Inc.
The IPO will run from March 31 through April 6, with a PSE listing scheduled for April 13, 2022, according to the latest schedule submitted to the SEC.
CTS Global has engaged SB Capital Investment Corporation as issue manager, underwriter and bookrunner for the offering.
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