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Coconut king banks on Vitacoco, other products as firm preps for IPO

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Cathy Yang, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2019/business/08/10/romeo-chan.jpg"/><figcaption>Romeo Chan, chairman of coconut product manufacturer Axelum Resources Corp. <em>ABS-CBN News</em></figcaption></figure></div><p>MANILA - Coconut product manufacturer Axelum Resources Corp is banking on increased demand for coconut-based food and beverages as it prepares for its initial public offering in October. </p><p>Axelum chairman Romeo Chan said demand for products like coconut water &quot;exploded&quot; in the last few years as consumers in the US and Europe became aware of the health benefits of the beverage. </p><p>Chan said coconut water, which used to be discarded during the production of other coconut products, became one of the company&#x27;s main growth drivers. </p><p>&quot;Then we had this deal with vitacoco, we started packing for them and today it&#x27;s great, it&#x27;s almost a billion-dollar industry,&quot; Chan said in an exclusive interview with ANC&#x27;s The Boss.</p><p>He added that this was partly responsible for the higher demand for other products like virgin coconut oil, cooking oil derived from coconuts, as well as coconut sugar. </p><p>&quot;If you go to a supermarket today in the US you will find so many products with coconut in it.&quot;</p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/B1GFQvbHNHs/" data-instgrm-version="12" style="background:#FFF;border:0;border-radius:3px;box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15);margin:1px;max-width:540px;min-width:326px;padding:0;width:calc(100% - 2px)"><div style="padding:16px"><div style="display:flex;flex-direction:row;align-items:center"><div style="background-color:#F4F4F4;border-radius:50%;flex-grow:0;height:40px;margin-right:14px;width:40px"> </div><div style="display:flex;flex-direction:column;flex-grow:1;justify-content:center"><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;margin-bottom:6px;width:100px"> </div><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;width:60px"> </div></div></div><div style="padding:19% 0"> </div><div style="display:block;height:50px;margin:0 auto 12px;width:50px"><a href="https://www.instagram.com/p/B1GFQvbHNHs/" style="background:#FFFFFF;line-height:0;padding:0 0;text-align:center;text-decoration:none;width:100%" target="_blank"><svg height="50px" version="1.1" viewBox="0 0 60 60" width="50px" xmlns="https://www.w3.org/2000/svg" xmlns:xlink="https://www.w3.org/1999/xlink"><g fill="none" fill-rule="evenodd" stroke="none" stroke-width="1"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 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style="display:flex;flex-direction:row;margin-bottom:14px;align-items:center"><div><div style="background-color:#F4F4F4;border-radius:50%;height:12.5px;width:12.5px;transform:translateX(0px) translateY(7px)"> </div><div style="background-color:#F4F4F4;height:12.5px;transform:rotate(-45deg) translateX(3px) translateY(1px);width:12.5px;flex-grow:0;margin-right:14px;margin-left:2px"> </div><div style="background-color:#F4F4F4;border-radius:50%;height:12.5px;width:12.5px;transform:translateX(9px) translateY(-18px)"> </div></div><div style="margin-left:8px"><div style="background-color:#F4F4F4;border-radius:50%;flex-grow:0;height:20px;width:20px"> </div><div style="width:0;height:0;border-top:2px solid transparent;border-left:6px solid #f4f4f4;border-bottom:2px solid transparent;transform:translateX(16px) translateY(-4px) rotate(30deg)"> </div></div><div style="margin-left:auto"><div style="width:0px;border-top:8px solid #F4F4F4;border-right:8px solid transparent;transform:translateY(16px)"> </div><div style="background-color:#F4F4F4;flex-grow:0;height:12px;width:16px;transform:translateY(-4px)"> </div><div style="width:0;height:0;border-top:8px solid #F4F4F4;border-left:8px solid transparent;transform:translateY(-4px) translateX(8px)"> </div></div></div><div style="display:flex;flex-direction:column;flex-grow:1;justify-content:center;margin-bottom:24px"><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;margin-bottom:6px;width:224px"> </div><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;width:144px"> </div></div><p style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;line-height:17px;margin-bottom:0;margin-top:8px;overflow:hidden;padding:8px 0 7px;text-align:center;text-overflow:ellipsis;white-space:nowrap"><a href="https://www.instagram.com/p/B1GFQvbHNHs/" style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;font-style:normal;font-weight:normal;line-height:17px;text-decoration:none" target="_blank">A post shared by Cathy Yang (@cathyyapyang)</a> on <time dateTime="2019-08-13T07:01:33+00:00" style="font-family:Arial,sans-serif;font-size:14px;line-height:17px">Aug 13, 2019 at 12:01am PDT</time></p></div></blockquote><div><script async="" src="https://www.instagram.com/embed.js" type="text/javascript"></script></div><p>Axelum is looking to raise P7.7 billion from its IPO, which it will use to expand its operations. </p><p>Chan said P1.8 billion will be used to acquire other companies, P580 million will go to expanding Axelum&#x27;s international and local distribution channels, while P470 million will be used to improve and expand its facilities. </p><p>Another P760 million will be used to develop new products like concentrated coconut water, Chan said. </p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2019/business/08/10/coconut-products.jpg"/></figure></div><p><br/>Axelum is also looking into possible expansion into Indonesia and Vietnam. </p><p>With client firms like candy-makers Mars, Cadbury and Ferrero Rocher moving manufacturing facilities to cheaper locations in Eastern Europe, Axelum is looking to set up manufacturing facilities in either Poland or Hungary.</p><p>Chan also said Axelum also aims to set up manufacturing in Canada and in the US in Oregon or Washington State. </p><p>Axelum&#x27;s IPO will push through despite headwinds in the global economy caused by the US-China trade war, Chan said, because the company&#x27;s fundamentals remain solid. </p><p>&quot;I think we should seize the moment and go public.&quot;</p><p>He said Axelum has P6 billion in revenues annually.</p>

<p>Coconut product manufacturer Axelum Resources Corp is banking on increased demand for coconut-based food and beverages as it prepares for its initial public offering in October. <br /> </p>

Coconut product manufacturer Axelum Resources Corp is banking on increased demand for coconut-based food and beverages as it prepares for its initial public offering in October.

Coconut king banks on Vitacoco, other products as firm preps for IPO

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Coconut king banks on Vitacoco, other products as firm preps for IPO

Cathy Yang,

ABS-CBN News

Published Aug 13, 2019 05:02 PM PHT

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