The company hopes to set up shop in China and Indonesia in the first half, followed by Thailand and Vietnam, said its president, Carlos Hinolan.
“The main reason we chose to expand first in China and Indonesia was because these two countries alone represent an additional market of over 1.5 billion consumers and thousands of new potential business partners,” Hinolan said in a statement.
AudioWav will offer 900 million shares at P1.77 to P2.96 per share, the company said in a statement.
A portion of the IPO will be used to strengthen the company’s infrastructure, it said.