HOMEGROWN technology provider AudioWav Media Inc. is delaying its initial public offering (IPO) until the second quarter of 2020 because of poor market sentiment fueled by the coronavirus disease 2019 (Covid-19) outbreak. He said, however, that once the outbreak passes, markets “will go back [in] full force and business will resume as usual.”“We hope that by the second quarter, the market will go back to normal. Funds raised from the offer would be used for expansion, bulk of which for its local operations, Hinolan said. The interview comes three months after AudioWav launched WAV Flow 2.0, a subscription-based music and message device that carries over 500 curated music channels for in-store use. The device has been well-received in the market, Hinolan said, adding that it was in 600 locations in the country, 70 percent of which were in Metro Manila.

Source: Manila Times March 03, 2020 16:26 UTC