Fruitas raises P200M via private placement of corporate notes
LISTED food and beverage store operator Fruitas Holdings, Inc. has concluded its first private placement of corporate notes, raising P200 million.
The proceeds will be allocated for working capital requirements and general corporate purposes, Fruitas said in a stock exchange disclosure on Wednesday.
The corporate notes were issued to qualified individual or institutional buyers, with no more than 19 primary institutional lenders participating, the company added.
The issuance had a full take-up of the maximum amount set by Fruitas. It was arranged by RCBC Capital Corp.
“This notes issuance provides a new financing source which will empower House of Fruitas to expand its product offerings and access a broader customer base,” Fruitas President and Chief Executive Officer Lester C. Yu said.
In 2023, Fruitas saw a 37% increase in its consolidated net income to P113 million as revenues soared by 37% to an all-time high of P2.47 billion.
Fruitas has 817 stores as of end-2023. Its brands include Fruitas! Fresh from Babot’s Farm, Buko Loco, Balai Pandesal, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, Sabroso Lechon, Ling Nam, and Fly Kitchen.
On Wednesday, Fruitas shares rose by 3.9% or three centavos to 80 centavos apiece. — Revin Mikhael D. Ochave
