Supermarket player AllDay Marts files for IPO

“We intend to use the net proceeds from the offer primarily for debt repayment and capital expenditures and initial working capital for store network expansion,” AllDay Marts said in its filing. (File pic shows traders working on the floor of the Philippines stock exchange.)

MANILA: Philippine supermarket operator, AllDay Marts Inc, has filed for an up to six billion pesos (US$119mil or RM503.61mil) initial public offering (IPO), according to the corporate regulator, adding to a robust pipeline of share sales on the country’s bourse.

AllDay Marts is planning to sell up to 7.5 billion shares, including the over-allotment option, at a maximum price of 0.80 pesos (0.0159 US cent or eight sen) per share, filings with the Securities and Exchange Commission showed.