By James A. Loyola
The Villar family’s AllValue Holdings Corporation is considering more initial public offerings for its other retail concepts after the successful debut of its pioneering one-stop shop home store AllHome Corporation in the Philippine Stock Exchange.
In an interview after the listing of the AllHome shares, AllValue and AllHome Founder and Chairman Manuel B. Villar said they are just scaling up these businesses which are already profitable.
Aside from AllHome, AllValue’s other retail concepts include The Coffee Project, AllDay Supermarket, AllDay Convenience Store, Bake My Day, AllToys, AllShoppe, Gastroville and AllSports.
“But it’s still too early to tell which one will be next to do an IPO,” he noted.
The AllHome IPO consisted of 750 million new common shares along with 375 million existing common shares held by AllValue Holdings at P11.50 per share. Villar said the 168.75 million secondary shares under the overallotment option were also fully exercised.
AllValue President and AllHome Vice Chairperson Camille Villar said they are allotting P3.6 billion for capital expenditures this year up to 2020 as it opens more branches with the aim of doubling its size and market share by next year.
“We are rolling out an expansion program to significantly increase our net selling space to at least double our current space by end 2020,” said the AllHome Chair.
AllHome currently has 27 stores nationwide with a market share of 7.1 percent. It is planning to close the year with additional 18 stores and add 25 more next year for a total of 70 stores.
Villar noted that, “AllHome has been growing steadily in the past six years since it was formed in 2013 with 27 stores to date or total net selling space of over 215,000 square meters across 22 cities and municipalities.”
“The home improvement industry in the Philippines is underpenetrated so we thought of introducing a retail concept with global standards which eventually complements our expertise as the largest homebuilder in the country,” said Villar.
He added that, “AllHome is our attempt to diversify and to address an emerging needs among Filipino homeowners but of course in a global standard retail concept.”
Meanwhile, Vista Land & Lifescapes, one of the country’s top integrated developers, is seeking to register P30 billion worth of retail bonds while planning to offer P10 billion in new and old bonds.
In a disclosure to the Philippine Stock Exchange, the firm said it has filed with the Securities and Exchange Commission an application for the registration of Philippine Peso-denominated fixed-rate retail bonds with an aggregate amount of up to P30 billion.
The shelf-registered bonds will be issued in tranches within a period of three years from the effective date of registration statement.
Vista Land has also applied with the SEC for the offer and issuance of up to P10-billion fixed-rate retails bonds consisting of P5 billion with an oversubscription option of up to P5 billion.
Of the Offer Bonds, P5 billion will be issued as the last tranche of the existing P20 billion shelf program of the Company, while up to P5 billion shall be issued out of the New Shelf Bonds.
Vista Land is currently ramping up project launches in the second semester due to strong demand.
According to Vista Land President Manuel Paolo A. Villar, “we target to launch at least P50.0 billion projects in terms of project value for 2019, which will still be mostly in the low and affordable segment and outside Metro Manila.”