Sunday, 22 July 2007

IRemit sets sights on IPO this year

Last updated 00:19am (Mla time) 07/23/2007

REMITTANCE company iREMIT has said it is considering an initial public offering (IPO) toward the last quarter of this year.

It has named investment house First Metro Investment Corp. as financial adviser, issue manager and underwriter for the IPO.

The company did not provide details of the planned IPO.

The company's board has approved an increase in the company's capital to P500 million from P163 million to finance its ongoing expansion. Proceeds of the IPO will be used to open new branches and expand to new markets as well as to finance its working capital requirements to meet the increasing volume of remittances.
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1 comment:

  1. hey! i'm going to cali this weekend and won't be back until is the website i was talking about where i made extra summer cash. Later! the website is here