AllDay eyes P6.04B IPO
Supermarket operator AllDay Marts Inc. is looking to raise as much as P6.04 billion through an initial public offering (IPO).
It plans to offer to the public 7.54 billion shares, divided into 6.86 billion primary shares covering the initial offer and another 685.71 million secondary shares owned by mother company AllValue Holdings Inc., at an offer price of up to P0.80 per share.
Of the proceeds, P548.6 million will go to AllValue Holdings.
PNB Capital and Investment Corp. will serve as sole issue manager, and together with BDO Capital & Investment Corp. and China Bank Capital Corp., will serve as joint lead underwriters and joint bookrunners.
The Villar-controlled company said it will use the proceeds to pay off debt, and for capital expenditures and initial working capital for store network expansion.
As for its network expansion plans, AllDay said it intends to increase its stores to 45 by 2022 and 100 stores by the end of 2026.
Emperador targets Singapore listing
Emperador Inc. said its board of directors has granted authority to the company management to deliver all the necessary requirements for a secondary listing on the Singapore Exchange Ltd. (SGX) by way of introduction “as soon as practicable.”
“The company will continue to maintain its Primary Listing in the Philippine Stock Exchange (PSE) and the stock is anticipated to trade in both exchanges concurrently, subject to obtaining the necessary regulatory approvals,” Emperador said.
“We believe that SGX, one of the most developed exchanges in Asia, is the appropriate secondary exchange to raise the international profile of Emperador. We are very excited at the prospect of becoming the first ever PSE-primary listed company to conduct a Secondary Listing in the SGX and are optimistic that our Secondary Listing will serve as a catalyst to enhance the strategic collaboration between the PSE and the SGX,” said Andrew Tan, Emperador chairman.
D&L moves bonds sale
D&L Industries Inc. is moving the sale of its planned P5 billion three- and five-year retail bonds to September as it continues with its regulatory compliance.
D&L said the new schedule for the bond sale will be September 1 to 6, 2021, with pricing eyed on August 26. It will then be listed with the Philippine Dealing and Exchange Corp. on September 10.
D&L earlier said it received a PRS Aaa with a stable outlook for its planned P5 billion bond sale from the Philippine Rating Services Corp. (PhilRatings).
According to the company, the proceeds will be used to partially finance its capital expenditure, including the completion of its Batangas expansion plant; to repay bridge loans; and for general corporate purposes.
D&L has established itself as a leading market player with its four principal businesses — food ingredients, oleochemicals and other specialty chemicals, specialty plastics and consumer products original design manufacturer — having significant market shares.
