AllDay Marts pegs IPO price at P0.60 per share

AllDay Marts Inc., the grocery chain owned by the Villar family, set its initial public offering price at P0.60 per share.

At this price level, AllDay will raise up to P4.5 billion in proceeds which will be used to fund store network expansion.

Under the plan, AllDay will offer 6.857 billion common shares, with an option to sell 685.714 million in over-allotment shares.

The company said the offering period would be from Oct. 18 to 25, 2021.

The company had 33 stores as of end-June and aims to have 45 stores by end-2022 and 100 stores by end-2026.