MANILA, Philippines -- The Ayalas’ Integrated Micro-Electronics Inc. will debut on the Philippine Stock Exchange Thursday via listing by way of introduction at an indicative opening price of P6.20 per share.
IMI is set to list about 1.14 billion common shares, of which only about 18.16 million shares will be tradable. These tradable shares exclude shares equivalent to about 84.6 percent of the company that are subject to the required 180-day lock-up period.
The company will list on the main board of the PSE and trade under the stock trading symbol "IMI" and shall join the "industrial" counter as well as the "diversified" sub-sector.
Listing by way of introduction involves the listing and trading of a company’s shares at the stock market without having to sell new shares through an initial public offering (IPO). This listing is seen appropriate in the case of IMI, which is registered with the Board of Investments and is required to soon make a public offering of its shares.
According to the Philippine Stock Exchange, about 1.04 billion shares are subject to this lock-up requirement equivalent to 84.6 percent of the company's stock. Click here to read more...
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