SEC approves AllHome's ₱20-B IPO plan

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Metro Manila (CNN Philippines, August 19) — The country's corporate regulator has given AllHome Corp. the green light to raise up to ₱20.7 billion through an initial public offering (IPO) this year.

In a statement, the Securities and Exchange Commission said it has approved the registration statement of the Villar-led company in an en banc meeting Monday.

AllHome will offer in September up to 1.12 billion shares—750 million of which are primary shares—valued at ₱16 each.

It tapped UBS AG, Singapore Branch, as sole global coordinator and joint bookrunner, CLSA Limited and Credit Suisse (Singapore) Limited as joint bookrunners, and PNB Capital and Investment Corp. and China Bank Capital Corp. as domestic underwriters.

AllHome said it will be listed and traded on the main board of the Philippine Stock Exchange under the trading symbol “HOME" in October.

READ: Villar-owned furnishing chain to list in October

The company said proceeds from the sale of primary shares amounting to ₱12 billion will be used for capital expenditures, store expansion, and debt payment.

Incorporated in May 2013, the company sells home construction and furnishing needs.

AllHome currently has 27 stores nationwide. It plans to open 18 more stores before the end of the year and 25 more in 2020, based on the company's information on SEC's statement.

The corporate regulator also gave clearance for the IPO of coconut product manufacturer Axelum Resources Corp. worth ₱4.767 billion.