SEC approval for 2 IPOs soughtShakey’s Pizza Asia Ventures, Inc. (SPAVI) and Xeleb Technologies, Inc. have sought approval from the Securities and Exchange Commission (SEC) for their planned initial public offerings this year. SPAVI is a leading full-service restaurant chain in the country while Xeleb is a technology company. Both separately submitted their registration statements to the SEC specifying their intention to list at the Philippine Stock Exchange (PSE). As of June, 2016, SPAVI owns 177 Shakey’s stores all over the country, with plans to expand in the greater Manila and provincial areas. Meantime, Xeleb intends to sell 290 million common shares to the public for price ranging from R2.04 to R2.54.

Source: Manila Bulletin October 11, 2016 14:15 UTC