The share price of Upson International Corp., a retailer of personal computers and information technology products, rose 20 percent to close at P2.90 during its debut on the Philippine Stock Exchange on Monday.
PSE President Ramon S. Monzon said Upson’s target price may not have been ideal for its founders and owners. “Still they went ahead with their IPO [initial public offering] because they realized that the IPO price is not the be-all and end-all of their IPO journey. It is just the beginning.”“I hope the story of Upson inspires entrepreneurs who also want to see their businesses go public,” Monzon said.
Upson today operates a nationwide retail network of 200 stores as of September 30, with retail brand outlets such as Octagon Computer Superstore, Micro Valley, Gadget King and Octagon Mobile as well as concept and specialty stores like Acer, HP, Brother and Silvertec in select locations.