The Philippine Stock Exchange (PSE) has given the green light to Steniel Manufacturing Corp.’s ₱315 million follow-on offering. The packaging company plans to sell 63 million common shares at ₱5 apiece to raise funds for expansion and working capital.
The offering, which will run from October 21 to 25, is expected to boost Steniel’s growth initiatives as it strengthens its presence in the local packaging industry. The shares will be listed on the main board of the PSE.
Steniel specializes in manufacturing various paper-based packaging products used in fast-moving consumer goods and industrial sectors.
