Philippines' UIC plans to open 250 new branches

The initial public offerings IPOs' prices are typically set above final selling prices, according to Philippine filings.

The rapid technological developments in computers and other IT products are matched with growing market segments like educational needs and computer and IT related jobs in all 17 regions, said Arlene Sy, UIC chief executive.

The company data showed that UIC plans to open 250 branches in the next three to five years, boosting its existing 183 stores. Sales rose 5 per cent to 8.6 billion pes and net income surge 95 per cent to 403 million pes in 2021, according to the company's data.

UIC has hired First Metro Investment Corp to advise on the IPO, with a target listing set for September.