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Mega Global targets IPO by 2025

BW FILE PHOTO

By Revin Mikhael D. Ochave, Reporter

SARDINES MAKER Mega Global Corp. is aiming to conduct an initial public offering (IPO) of its shares by 2025 provided that the company sustains its revenue growth.

Michelle Tiu Lim-Chan, Mega Global chief operating officer, said in a virtual round table on Tuesday that the IPO is in the horizon as the company seeks to double its revenues by 2025.

“By 2025, we hope that we will be able to reach that. And if we do, with the help of everyone, you can help us in [the] IPO of our company by 2025. It really depends,” Ms. Lim-Chan said.

Further, Mega Global Chief Growth and Development Officer Marvin Tiu Lim said the company is gearing up for the possible IPO.

“Even if we do or do not go to an IPO, our goal is to become ‘IPO-able,’ meaning that the company is transparent, we have the right people, the right plans and projects,” Mr. Lim said.

Meanwhile, Ms. Lim-Chan said the company is aiming to maintain its double-digit growth in terms of sales and production for 2022.

She also confirmed that Mega Global will open its multi-use manufacturing plant in Batangas by the first quarter of 2022.

“Our [Batangas] plant will serve as the central research and development hub and a production site that will help in augmenting the growing demand for our products especially in Luzon. It is seen to have a contribution of 20%-30% of Mega Global’s target sales and growth for 2022 and beyond,” Ms. Lim-Chan said.

Further, Mr. Lim said the company had been able to hit its targets and is upbeat about its performance in 2021, adding that Mega Global will be aggressive in 2022.

“We want to come up with more products, better sales, and a better company,” Mr. Lim said.

He also disclosed that the company’s capital expenditure budget for 2022 will be lower than usual. He did not provide any specific figure.

“We are just completing our major plant. That costs us a lot. Next year, it is going to be a bit lower than expected because we need to recoup. But in terms of distribution and facilities, majority of them are still there. We are still continuing to build ships on our own,” Mr. Lim said.

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