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MANILA - The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) of meat vendor and supplier North Star Meat Merchants Inc. worth up to PHP4.5 billion. In its meeting on May 17, the SEC en banc resolved to render effective the registration statement of North Star Meat Merchants covering 1.8 billion common shares, subject to the company's compliance with certain remaining requirements. North Star Meat Merchants will offer to the public up to 360 million common shares priced at up to PHP10 per share. The offer will also include 32 million shares to be offered by selling shareholder Golden MJTF Holdings, Inc., plus an overallotment option of 58 million common shares, priced at up to PHP10 each. The shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE). Net proceeds from the offering of the primary shares are expected to amount to about PHP3.462 billion, which the company will use for capital expenditur

Holdings incMain board of the philippine stock exchangeSb capital corporationStar meat merchants incChina bank capital corporationExchange commissionInvestment corporationCapital investment corporationNorth star meat merchantsStar meat merchantsMain boardPhilippine stock exchangeManila the securities and exchange commission sec has considered favorably initial public offering ipo of meat vendor supplier north star merchants inc worth up to php4 5 billion in its meeting on may 17He sec en banc resolved to render effective the registration statement of north star meat merchants covering 1 8 billion common sharesUbject to the company 39s compliance with certain remaining requirements north star meat merchants will offer public up 360 million common shares priced at php10 per share also include 32 be offered by selling shareholder golden mjtf holdingsLus an overallotment option of 58 million common shares