, Philippines

Philippines’ Fruitas to buy Ling Nam restaurant with Balai IPO proceeds

The IPO raised some P203.8m in net proceeds.

Fruitas Holdings (FRUIT) is planning to acquire Ling Nam Wanton Parlor and Noodle Factory with the proceeds from the listing of its Balai ni Fruitas (BALAI). 

The initial public offering of BALAI raised about P203.8m in net primary proceeds and gross proceeds of P35m for FRUIT. 

“FRUIT is expected to book a one-time gain on the sale of existing shares in Balai ni Fruitas, which will result in an increase of its equity,” FRUIT said in a statement.

“Proceeds at the FRUIT level will be deployed into new strategic initiatives, including the  acquisition of ‘Ling Nam Wanton Parlor and Noodle Factory since 1950’.”

Read more: PH F&B company Fruitas ventures into healthcare

The IPO was launched last 30 June. It took place about one year since FRUIT acquired assets of the Balai Pandesal business. 

It has since expanded the Balai Pandesal brand to 30 stores, as of June 2022, from only 5 stores initially. 

BALAI targets to expand its Balai Pandesal store network to 130 by 2023, and to 200 by 2026. 

“The Company also targets to acquire or introduce value-adding concepts which would fit into its baked goods lineup,” FRUIT noted.  

“The Company continues to look at significant opportunities within the more than US$6b baked goods segment in the Philippines.”

Follow the link for more news on

Swarovski menguasai TikTok untuk perluas skala luxury di kalangan Gen Z

Produsen Kristal asal Austria ini bekerja sama dengan influencer untuk menjangkau pasar Singapura.

Dear Me Beauty berencana membuka flagship store

Store ini dapat menjadi fondasi bagi pertumbuhan pasar yang lebih luas.

Kawan Lama Indonesia mengaburkan batas antara belanja online dan offline

Pengunjung  platform e-commerce grup, Ruparupa.

Mal-mal di Filipina menarik pengunjung dengan pengalaman liburan yang lengkap

Pengunjung diperkirakan akan datang setelah jam kantor hingga larut malam.

Urban Revivo membuka cabang terbesar di Bangkok

Peritel fast fashion asal Cina ini membuka toko seluas 3.

Samsonite memanfaatkan data untuk tingkatkan penjualan

Produsen koper asal AS ini meningkatkan saluran daring untuk mendorong pendapatan di Asia Tenggara.

Belanja hyper-personalisasi jadi tren utama di Asia Tenggara

Data dan analitik memungkinkan brand mengoptimalkan pengalaman shopper baik secara daring maupun di toko fisik.

SSI Group meningkatkan investasi dalam ritel terpadu

Perusahaan yang menaungi brand-brand seperti Hermes dan Cartier ini sedang menyempurnakan omnichannelnya.

Peritel Asia-Pasifik manfaatkan subscriber untuk dorong pertumbuhan

Subscription menjadi sumber pendapatan yang stabil selama masa penurunan ekonomi.