Billionaire Manuel Villar Jr. disclosed Thursday a plan to conduct an initial public offering for supermarket chain operator All Day Marts Inc. this year to raise up to P6 billion in proceeds.
Villar, chairman of Vista Land & Lifescapes Inc. and three other listed firms, said his group may also join the real estate investment trust bandwagon by listing its office leasing assets later this year.
Villar said in a briefing during the opening of Vicon, the country’s first and biggest virtual property expo, his group was planning to list All Day to fund expansion.
After opening its first store in 2017, the group expanded its portfolio to 35 to 40 stores, mostly located in the National Capital Region and key cities in the provinces.
Villar said the group over the next couple of years would open nine to 10 All Day stores annually.
He said All Day improved its ecommerce and introduced innovations in the industry such as self check-out counters.
“I am confident that we are superior compared to others in terms of shopping experience,” Villar said.
The self-service kiosks are a direct answer to a discerning market’s need for efficiency as well as its desire for additional safety measures, especially in the throes of a worldwide pandemic, the company said.
All Day supermarkets are part of All Value Holdings Corp., the unlisted retail holding company of the Villar Group.
Meanwhile, Vista Land is identifying office assets that will be infused in an REIT company that will soon be listed in the local bourse.
Vista Land had more than 220,000 square meters of gross floor area of office space as of end-2020.
Two REIT firms were already listed in the stock market, including AREIT Inc. and DDMP REIT Inc. Three REIT applications are pending with the corporate regulators, including Filinvest REIT Inc., RL Commercial REIT Inc. and MREIT Inc.