Call center plans to raise P4B from stock offering
IPO planned in 1st quarter of 2008
By Elizabeth Sanchez-Lacson
Inquirer
Last updated 00:23am (Mla time) 10/11/2007
MANILA, Philippines--CONTACT center firm Eperformax International Inc. said it plans to raise up to P4 billion from a planned initial public offering of 223 million common shares by the first quarter of 2008 for its expansion and debt repayment, the company said in a statement.
ePerformax said it would sell up to 155 million new shares and 68 million existing shares through a secondary offering.
ePerformax indicated that the shares would be priced at P12.50 to P18 each.
The shares will represent 33.8 percent of the total issued and outstanding capital stock of the company after its initial public offer.
ePerformax 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.
ePerformax is the first locally operating, Philippine-based call center to file for an initial public offering.
"We believe that the local BPO industry is still underserved and there is still ample room for expansion. Either through acquisitions or building from the ground up, our competitive advantage in human resource training and operational efficiencies will give us the edge that we need to move forward successfully," Hartsaw added.
According to the Business Processing Association of the Philippines, the country's BPO industry is projected to continue at an average growth rate of close to 26 percent over the next three years.
ePerformax opened its contact center in Manila in 2002 with the vision of being the best call center in the Philippines.
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