Good news! Fruitas debut on the stock market today under FRUIT! Another good thing to be happy about if you have just invested in this company—its store network has now exceeded 1,000. The company disclosed that it has now 1,036 kiosks and stores around the country as of the end of November, following the opening of some of its branches in Metro Manila, Laguna, Bulacan, Cavite, Zambales, Rizal, Tarlac, Aklan, Iloilo, Cagayan De Oro, Cebu, and Davao. Last year, it only recorded 930 stores and this year, it has undertaken an aggressive expansion countrywide.
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Fruitas was listed in the Philippine Stocks Exchange on November 29, 2019. If you try to list down all the companies that conducted an initial public offering (IPO), Fruitas was the fourth, next to Kepwealth Property Phils, Inc., AllHome Corporation, and Axelum Resources Corporation. On the other hand, the hospital unit of Metro Pacific postponed its offering because of the appearance of a major investor who funded the business segment. Fruitas was happy with the result of the debut as the broker tranche was more than 2.5 times oversubscribed. The positive feedback from the public investors fluttered the company.
From the result of the listing, it could be noted that the public investors gave exceptional positive responses. This signifies that the public believes in what Fruitas is capable of. Investors believe in the strong fundamentals and aggressive expansion plans of the company. Also, the slowdown of inflation helped a lot in this making. The company is convinced that the higher consuming spending played an important role. The success of the debut of Fruitas wouldn’t happen if not for the investors who waited and bought shares. Let’s see how this one goes!
The company is eyeing to generate at least P1.2 billion from the IPO. This will be utilized for its expansion plans, the introduction of new concepts, acquisitions, and debt repayment. From 400 stores at the end of 2016, Fruitas was able to build more stores to 949 by the end second quarter this year. Last year, its consolidated revenues went up by 37% to P1.58 billion because of strong sales from its stores. Some of the popular brands of Fruitas include Buko Loco, Buko Ni Fruitas, Fruitas Fresh From Babot’s Farm, Juice Avenue, Black Pearl, and John Lemon. It also owns Uno Cinquenta Food Park in Maginhawa and Le Village The Lifestyle Park in E. Rodriguez, Sr.