Capital

Will Manny Villar’s Planned AllHome IPO Break Local IPO Drought?

AllHome plans P20.7B stock market debut in October 2019.
ILLUSTRATOR Roland Mae Tanglao
Comments

AllHome Corp., headed by the country’s richest man Manuel B. Villar Jr., has announced plans to raise up to P20.7 billion via an initial public offering (IPO) later this year. If approved, the home improvement retailer will mark the first IPO in the local stock market since 2018, breaking the yearlong IPO drought at the Philippine Stock Exchange (PSE). 

Based on the preliminary prospectus posted by the company on July 17, AllHome Corp., which will be listed as “HOME” in the PSE, will be offering up to 1.125 billion shares, consisting of 750 million primary shares and 375 million secondary shares, with an overallotment option of 168.75 million common shares.

Each share will be priced at P16.

The company expects to earn P11.46 billion in net proceeds from its primary shares, which will be used for capital expenditures, initial capital for store expansions, and debt repayments.  

In 2018 alone, AllHome Corp.’s net profit was P511.4 million. The Villar-owned corporation plans to launch the offerings in September and officially list its shares by October 1. As of 2019, Villar is the richest person in the Philippines with a net worth of $5.5 billion.

ADVERTISEMENT - CONTINUE READING BELOW

The last IPO to be listed on PSE was more than a year ago in June 29, 2018, by construction firm D.M. Wenceslao & Associates.

Comments
View More Articles About:
About The Author
Anri Ichimura
Staff Writer, Esquire Philippines
View Other Articles From Anri
Comments
Latest Feed
 
Share
It's been called a "dishonorable" use for a hero's name.
 
Share
The star came correct to the Mexico City premiere of Once Upon a Time...In Hollywood.
 
Share
Ironically, elected officials are not required to pass the Civil Service Exam.
 
Share
The Securities and Exchanges Commission has just approved the initial public offerings of both companies.
 
Share
What began as a simple exploration of a prison took on greater purpose as filming began.
 
Share
These bottles will have you smelling fresh and clean all day.
 
Share
 
Share
The latest iteration of the German carmaker’s mid-size luxury SUV is its best one yet.
 
Share
His case sparked debate about the death penalty and went right up to the Supreme Court.
 
Share
There's nothing like a big pot of soup to warm you up.
 
Share
Load More Articles
Connect With Us