Capital

Manny Villar's AllDay Files for P6 Billion IPO with SEC

It's with the SEC now.
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Tycoon Manny Villar’s grocery subsidiary AllDay Mart Inc. has filed its P6 billion initial public offering prospectus to the Securities and Exchanges Commission. The Villar-owned supermarket chain will be offering up to 6,857,143,000 common shares of up to P0.80, with an overallotment option of up to 685,714,000 shares.

“We intend to use the net proceeds from the offer primarily for debt repayment and capital expenditures and initial working capital for store network expansion,” said AllDay in its prospectus.

The company proposed an offering period from October 15 to 25, with the listing tentatively slated for November 3.

PNB Capital and Investment Corporation has been tapped to be the sole issue manager. Meanwhile, PNB Capital, BDO Capital & Investment Corporation, and China Bank Capital Corporation will serve as the underwriters and bookrunners.

What Is AllDay?

AllDay is a member of Villar’s group of companies, which also encompasses AllHome, AllDay Convenience Stores, AllHome RX, Vista Land and Lifescapes, Golden MV Holdings, The Coffee Project, and more.

Founded in 2016, AllDay Mart Inc. is a supermarket chain that operates 33 supermarkets in middle-class communities in 25 cities and municipalities. It also operates an integrated online grocery platform, and aims to open 12 more stores by 2022 and reach its 100-store milestone in 2026.

For the first half of 2021, AllDay’s sales reached P4.493 billion while net profit reached P179.6 million, recording an increase of 19.7 percent and 58.8 percent year-on-year, respectively.

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Anri Ichimura
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