SHAKEY’S Pizza Asia Ventures Inc (SPAVI), the local franchisee of Shakey’s pizza parlor in the Philippines, is looking to raise up to P5.5 billion through an initial public offering (IPO) likely in December this year. SPAVI’s in-house commissary supplies bulk of its proprietary pizza dough and crust used to create Shakey’s trademark Thin Crust pizza. Shakey’s first opened in the Philippines in 1975 and is famous for its Thin Crust pizzas and its Chicken & Mojos. SPAVI, who owns the rights to the Shakey’s trademark locally, is in the top spot in the traditional full service pizza chain and family style casual dining categories. As of end-June, it operated 177 stores nationwide, with plans to add seven more stores before the end of the year.

Source: Manila Times October 11, 2016 16:41 UTC