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.

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
"We're not looking to buy anything right now. But I've always been a huge James Bond fan."
 
Share
 
Share
Paulino Alcantara still holds the record for being the youngest player to ever debut in FC Barcelona.
 
Share
A follow-up to one of his biggest hits is "definitely on the cards"
 
Share
HBO's streaming service is now available for both Apple and Android devices.
 
Share
 
Share
 
Share
The rock band finally made their Philippine debut. Was it worth the hype?
 
Share
 
Share
The Commonwealth-edited drop is now available at Greenbelt.
 
Share
Load More Articles
Connect With Us