Real estate mogul Manuel Villar plans to list four other companies with the Philippine Stock Exchange over the next three years.
Villar said in an interview at the sidelines of listing ceremony of his home improvement retailing company AllHome Corp. that the group was scaling up other retail concepts in preparation for possible listing.
“We have other companies that are ready to list, but we are still studying the market environment if is it okay to list. This one [AllHome] is ripe already so it went public. But the others are not yet that ripe, and we just have to continue scaling them up,” said Villar, a former senate president and presidential contender.
“There are about three or four possible candidates for listing,” Villar said when asked how many more companies he was planning to list with the PSE.
AllHome is one of the subsidiaries of AllValue, the Villar group’s holding company for retail investments. Other retail concepts under AllValue are AllDay supermarket, AllDay convenience store and Coffee Project.
Villar who is listed as the richest Filipino billionaire this year currently owns several listed firms, including Vista Land & Lifescapes Inc., Vistamalls Inc. and Golden Bria Holdings Inc.
Meanwhile, shares of AllHomeclosed higher by 0.52 percent to P11.56 on its maiden listing from its initial public offering price of P11.50.
AllHome vice chairman Camille Villar said in an interview the company was poised to sustain its double-digit growth over the next two years.
AllHome’s revenues and net income registered a compounded annual growth rate of 45 percent and 231 percent, respectively for the period 2016 to 2018.
Villar said that as the company ramps up store expansion to 70 by 2020 using the proceeds from the IPO, its market share was also expected to double from the current 7.1 percent.
AllHome raised P14.9 billion in proceeds from the sale of 1.125 billion shares with an over allotment of 168.750 million secondary shares, making it the largest IPO in terms of value over the last three years.
Luis Limlingan, managing director at Regina Capital Development Corp., said AllHome was warmly received by the market.
“Shares were trading relatively sideways for most part of the trading session. However, investors bought up in the afternoon when the company disclosed future plans,” Limlingan said.
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