Villar Group Eyeing To Put Up All Day For IPO Offering
The supermarket chain operator “All Day” by the Villar Group is being eyed for an IPO offering as early as October, to raise up to ₱6 billion.
The Villar Group chairman Manuel Villar Jr. told reporters during the launch of ViCon or the Villar Convention, a virtual property expo that they will be doing an IPO of AllDay. They have already tapped banks to arrange the multibillion peso deal.
While they are eyeing an October IPO launch, the exact timing has yet to be determined and would depend on market conditions, added Villar. However, he believes All Day is already ripe for an IPO with around 30 to 40 supermarkets across the country.
Proceeds will be used to further expand All Day’s footprint which is present in many different neighborhood communities in the country. Because according to Villar, neighborhood stores where an AllDay Supermarket sits beside their very own concept stores like AllHome and Coffee Project can easily become the preferred shopping districts of customers instead of bigger and sprawling malls.
He is confident that people like to park and shop in neighborhood stores and that they are superior to other commercial businesses in terms of providing a quality shopping experience.