By Keren Concepcion G. Valmonte
THE Villar group is preparing for the initial public offering (IPO) of AllDay Marts, Inc. and the listing of its real estate investment trust (REIT) this year but details have yet to be decided, their owner said on Thursday.
“We’re launching two projects this year, the IPO of AllDay and the REIT,” Manuel B. Villar, Jr., chairman of Vista Land & Lifescapes, Inc., said in a media briefing on Thursday.
AllDay supermarket’s IPO will be scheduled as early as October but final details will be dependent on market conditions. The company aims to raise as much as P6 billion from offering primary shares.
Meanwhile, the planned REIT portfolio will feature office spaces, much like the offerings of Filinvest Land, Inc. and Megaworld Corp.
Proceeds from the REIT offering will be used for office expansions and for the company’s plan for a development consolidating AllHome, AllDay, and Coffee Project stores, Mr. Villar said.
AllHome, AllDay, and Coffee Project all performed well despite the pandemic, which is why the group is now considering a new project that would combine the three into one mall.
VIsta Land & Lifescapes shares at the stock market went up by 2.75% or 10 centavos to close at P3.73 each. Meanwhile, shares of listed AllHome Corp. rose by 0.13% to end at P7.82 apiece from P7.81.