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:
Recommended Videos
About The Author
Anri Ichimura
Staff Writer, Esquire Philippines
View Other Articles From Anri
Comments
Latest Feed
 
Share
Joya's 'Space Transfiguration' fetched a record sale of P112 million at the same auction in 2018.
 
Share
For this year's edition of Art Fair Philippines, the Sol LeWitt Estate has generously loaned for exhibition two wall drawings.
 
Share
All the more reason to visit this picturesque destination.
 
Share
Oriental Mart is famous for its salmon tamarind soup.
 
Share
All systems go for country’s biggest annual music festival.
 
Share
Communications, transportation, and power should not be listed as public utilities, say lawmakers.
 
Share
We chat with the Grammy-winning artist, who is coming to Manila next month.
 
Share
The OG red version is complemented by new colors, plus matching shorts.
 
Share
"He had to like it. If Daniel doesn't like it, then you don't get the job"
 
Share
Can the 1,100-cc Ducati Scrambler be your daily ride?
Load More Articles
Connect With Us