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Business

Federal Chemicals sets IPO

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Adhesive and sealant maker Federal Chemicals Inc. will be the third company to undertake an initial public offering (IPO) this year following the approval of its registration by the Securities and Exchange Commission.

Based on its IPO application, FedChem will offer 12.508 million common shares priced between P6.50 to P7.50 each. This will raise a much as P93.75 million in fresh capital which the company will use to finance the direct importation of its raw material requirements and for additional working funds.

RCBC Capital Corp. will act as the lead underwriter and issue manager of the IPO, after which a total of 37.5 million in outstanding shares will be listed. FedChem has an authorized capital stock of P100 million divided into 100 million shares with a par value of P1 each.

Established in 1993, FedChem is the newest entrant in the country’s sealant and adhesive industry but has already captured second place in terms of market dominance.

The company locally manufactures and markets several types of adhesives and sealants used by the hardware, construction and leathergoods industries. Among its products are FedSeal Elastometric Sealant, Surehold and Bondy contact cement brands.

It is also the exclusive Philippine distributor of products from Orgavyl Chemical Industries BHd., a leading publicly-listed company based in Malaysia, offering a wide array of industrial and household do-it-yourself adhesives and sealants. Conrado Diaz Jr.

vuukle comment

CAPITAL

CAPITAL CORP

COMPANY

CONRADO DIAZ JR.

ELASTOMETRIC SEALANT

FEDCHEM

FEDERAL CHEMICALS INC

MILLION

ORGAVYL CHEMICAL INDUSTRIES

SECURITIES AND EXCHANGE COMMISSION

SUREHOLD AND BONDY

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