Capital

SEC Greenlights IPOs of Villar's AllHome, Coco Products Manufacturer

The Securities and Exchanges Commission has just approved the initial public offerings of both companies.
IMAGE PIXABAY/UNSPLASH
Comments

AllHome Corp. and Axelum Resources Corp. are set to join Kepwealth Property Phils., Inc. as the first three initial public offerings (IPOs) on the Philippines Stock Exchange (PSE) this year. The Securities and Exchange Commission (SEC) has confirmed that it has cleared the IPOs of AllHome and Axelum Resources earlier today, thus approving each company’s bid to raise as much as P11.4606 billion and P4.408 billion from their respective primary offerings alone.

Villar-owned home improvement retailer AllHome will offer up to 1.29 billion shares made up of 750 million new common shares, 375 million existing common shares, and an additional 168.75 million common shares held by AllValue Holdings Corp. should they decide to offer more. 

AllHome's P20.7 billion stock debut will go by the symbol “HOME” on PSE, and is set to be offered at a maximum price of P16 per share. 

The home improvement shop currently has 27 stores across the country and intends to open 18 more before the end of the year, followed by an additional 25 stores in 2020. 

ADVERTISEMENT - CONTINUE READING BELOW

Meanwhile, coconut product manufacturer Axelum Resources will offer up to 1.13 billion shares to new investors, which will be composed of 400 million treasury shares, 300 million new common shares, and 430 million existing common shares from CP Compass Singapore Pte. Ltd.

The company’s shares will be priced at a maximum of P6.81 each. Axelum Resources expects to raise as much as P7.7 billion from its primary and secondary shares. 

The agribusiness deals in the manufacturing of coconut products for both the international and local food and beverage market. Its desiccated and coconut-meat based products are exported to major markets like the U.S., Canada, Australia, new Zealand, Europe, Middle East, Japan, etc.

The official listing dates of AllHome and Axelum Resources are yet to be confirmed. 

The first and previous company to list its shares on PSE was Kepwealth Property Phils., Inc., which priced its maiden offering at P5.74 per share. Kepwealth’s listing date occurred on August 19, the same day the IPOs of AllHome and Axelum Resources were approved.

ADVERTISEMENT - CONTINUE READING BELOW

This news also follows the delisting announcement of Resorts World Manila’s Operator, Travellers International Hotel Group, Inc., on August 13. The proposed date of delisted is tentatively scheduled for October 15, 2019.

Comments
View More Articles About:
Recommended Videos
About The Author
Anri Ichimura
Staff Writer, Esquire Philippines
View Other Articles From Anri
Comments
Latest Feed
 
Share
As of February 17, there are currently 171 persons under investigation for COVID-19.
 
Share
 
Share
What's extremely clear in this script is that Star Wars is good when there is consequence.
 
Share
Where to go to make the most of the long weekend?
 
Share
 
Share
Gomez, Burgos, and Zamora solidified the secularization movement and the nascent nationalism felt by so many.
 
Share
 
Share
When you don't pay attention to what other people are doing, other people are bound to copy.
 
Share
Writer and producer Valerie Castillo-Martinez teams up with Raya Martin for Death of Nintendo.  
 
Share
Botaniko Herbal Urban Lounge is where you can start or end a chill night in the city.
 
Share
Featuring outdoor-inspired prints, harness straps, and cobra buckle details.
 
Share
The Philippines is also the fifth most optimistic country when it comes to opportunities.
Load More Articles
Connect With Us