AllHome opened at P11.62 per share and closed six centavos higher at P11.56 per share. The P14.9 billion share sale is the biggest IPO in three years.
AllHome website
AllHome shares rise in stock market debut
Iris Gonzales (The Philippine Star) - October 11, 2019 - 12:00am

MANILA, Philippines — The Villar family’s AllHome closed on a positive note in its market debut, rising slightly higher than its initial public offering price of P11.50 each share.

AllHome opened at P11.62 per share and closed six centavos higher at P11.56 per share. The P14.9 billion share sale is the biggest IPO in three years.

The company offered 1.12 billion shares, representing 30 percent of the total issued and outstanding common shares post-IPO.

“The home improvement industry in the Philippines is under penetrated so we thought of introducing a retail concept with global standards which eventually complements our expertise as the largest homebuilder in the country,” AllHome chairman Manuel Villar Jr. said yesterday.

The Villar family opened the first AllHome in 2013, marking their foray into the one-stop shop home store concept.

Moving forward, AllValue Holdings Corp. is considering undertaking more initial public offerings for its other retail concepts including The Coffee Project, AllDay Supermarket, AllDay Convenience Store, Bake My Day, AllToys, AllShoppe, Gastroville and AllSports.

AllValue president and AllHome vice chairperson Camille Villar said the group is allotting P3.6 billion for capital expenditures this year up to 2020 to fund branch expansion.

“AllHome is part of an innovative retail ecosystem that addresses the various needs of the surrounding communities,” she said.

At present, AllHome has 27 stores nationwide with a market share of 7.1 percent. It hopes to end the year with additional 18 stores. The company plans to open 25 more next year for a total of 70 stores.

AllHome president Benjamarie Therese Serrano said the fresh capital would partially fund the store network rollout through 2020 as the group takes advantage of the various macro-economic and home improvement industry specific trends.

“We now have 27 stores in 22 cities and municipalities across the Philippines. With a span of six years, we were able to capture 7.1 percent market share, making us the fastest growing home improvement store in the country,” she said.

ALLHOME
Philstar
  • Latest
  • Trending
Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with