MANILA - The Securities and Exchange Commission on Monday said it approved the initial public offerings of the housing supplies retailer AllHome Corp and coconut product manufacturer Axelum Resources Corp.
AllHome, owned by billionaire Manny Villar, will have an initial public offering of 750,000,000 new common shares along with 375,000,000 existing common shares currently held by AllValue Holdings Corp, the SEC said. AllValue also has the option to offer another 168,750,000 shares.
The company expects to raise P11.5 billion from the offer, which will be primarily used for store network expansion and debt payments, the regulator said.
The SEC also approved Axelum's plan to offer 400,000,000 treasury shares and 300,000,000 new common shares along with 430,000,000 existing common shares.
Axelum expects to raise P4.4 billion from the IPO based on a maximum offer price of P6.81 per share, the SEC said.
Kepwealth Property Philippines Inc (KPPI) raised P384.77 million in its IPO from Aug. 5 to 9. KPPI closed 42 percent higher at P8.15 per share as it debuted in the stock exchange's small, medium, and emerging board.