THE Philippine Stock Exchange has approved the new initial public offering period and listing date for Touch Solutions Inc., an information technology service provider.

In a memorandum posted on its website on Monday, the PSE said Touch Solutions’ P99-million initial share sale will run from December 6 until December 12 with the listing to be held on December 19.

Touch Solutions, which will be the fifth company to go public this year, deferred the IPO originally scheduled last week due to the lack of approvals from the Securities and Exchange Commission.

The company earlier outlined plans to sell 22 million primary shares at P4.50 each. Abacus Capital and Investment Corp. was tapped as listing underwriter.

Touch Solutions said the bulk of the proceeds will be used for its regional expansion program with other investments to include the acquisition of additional shares in affiliate Sagesoft Solutions Inc., a company that offers enterprise resource planning applications and accounting software solutions.

The company was started in 2001 to establish and offer information-technology products and services. The company is a growing player in the sector with focus on becoming a leading open systems enterprise solutions provider for infrastructure software products and services.

Four Philippine companies went public this year—building contractor Megawide Construction Corp., supermarket chain Puregold Price Club Inc., semiconductor manufacturer Cirtek Holdings Philippines Corp. and water utility Calapan Ventures Inc.