Dean and Leo Lao founded company D&L Industries will be offering 1.07 billion primary shares both locally and internationally, the Philippine Stock Exchange (PSE) reported.

The food ingredients and plastic colorants and additives manufacturer disclosed in a statement with the Securities and Exchange Commission that it is planning to raise Php6.3 billionto use for its investments, acquisitions, and other corporate purposes.

The company is expected to go for the IPO on the fourth quarter.

The lead international and domestic underwriter and issue manager of D&L is Maybank ATR Kim Eng Capital Partners.

D&L grew its revenues and income last year to Php12.8 billion and Php997 million.