ALLDAY Marts Inc., owned by the Philippines’ richest man Manny Villar, on Wednesday said it has set the final offer price for its initial public offering (IPO) at P0.60 per common share.
The grocery chain operator is offering 6,857,143,000 common shares to the public with up to 685,714,000 option shares, the Villar-led firm told the stock exchange.
AllDay Marts filed the registration statement for its IPO in August. The Securities and Exchange Commission in September approved its IPO.
The IPO will run from Oct. 15 to 25 while the listing is scheduled on Nov. 3.
Proceeds from the IPO will be used for debt repayment, capital expenditures, and working capital for expansion, the company said on its IPO prospectus.
AllDay is a supermarket operator with a total of 33 stores across the country, one is located in Talisay City, Cebu. (CSL)