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Villar Group to offer shares of AllDay, REIT to public

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The Villar Group on Thursday said it will list its supermarket brand AllDay and its own real estate investment trust (REIT) company on the Philippine Stock Exchange (PSE) in the fourth quarter.

In a press briefing for the Villar Group’s Vicon—the group’s online property convention—Manuel B. Villar, the group’s chairman, said the company hopes to raise as much as P6 billion for the initial public offering (IPO) of the supermarket brand under AllDay Marts Inc.

“It won’t be as big as AllHome. We already kicked off with the IPO. The value of the company is about P25 to P30 billion,” Villar said.

He said the company’s convenience store under the same AllDay brand may not be included in the IPO since the company wanted a pureplay entity.

“When we list AllHome, it’s also pureplay. AllDay serves a different market, it’s a higher level of supermarket which I think is the future of supermarket,” he said.

“In addition to e-commerce, people who still would want to buy in a supermarket would prefer a cleaner, a nicer environment in shopping. That’s the thrust of AllDay.”

Villar said the footprint of the supermarket is small—around 40 stores—but the company wants to grow the number by an average of 10 new ones per year, and build branches in Metro Manila and nearby provinces. Its stores will have about 2,000 square meters each, bigger than the average grocery shops, he said.

He also said he would see to it that the stores would carry the other brands of the group, including AllHome, its coffee shop brand Coffee Project and the two other restaurant brands.

As for the REIT company it will set up, Villar said it will initially be called Vreit and will consist mainly of the group’s office portfolio. The company is currently finalizing the properties that will be included in the REIT firm.

The two IPOs may coincide with each other depending on market conditions, he said. The company is targeting to list All Day in October while Vreit’s listing may take place a month after.  The Villar Group currently has a number of listed firms, the biggest of which is low-cost housing and deathcare firm Golden MV Holdings Inc., followed by property developer Vista Land and Lifescapes Inc., Vistamalls Inc. (formerly Starmalls Inc.) and retailer AllHome Corp.

Read full article on BusinessMirror

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