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Business

Keepers, Synergy Grid, AllDay Marts to start share sale in coming weeks

Iris Gonzales - The Philippine Star
Keepers, Synergy Grid, AllDay Marts to start share sale in coming weeks
These are the follow-on offerings of Synergy Grid & Development Phils Inc. (P17.9 billion) and The Keepers Holdings (P7.5 billion), and the initial public offering of AllDay Marts Inc. (P4.5 billion).
allvalue.com.ph

MANILA, Philippines — Three companies are expected to start their share sales in the coming weeks, which will raise as much as P29.9 billion.

These are the follow-on offerings of Synergy Grid & Development Phils Inc. (P17.9 billion) and  The Keepers Holdings (P7.5 billion), and the initial public offering of AllDay Marts Inc. (P4.5 billion).

Synergy has lowered its price range to P12 to P17 per share from P15 to P25 per share as earlier indicated in its registration statement for its FOO comprising 1.053 billion common shares.

At the current price range, it could raise up to P17.9 billion. It is eyeing to list on Nov. 10 after the offer period, which is slated from Oct. 26 to Nov. 2.

Synergy indirectly owns a majority stake in the National Grid Corp. of the Philippines (NGCP). It is led by tycoon Henry Sy, Jr. while luxury cars businessman Robert Coyuito is a director.

Lucio Co-owned The Keepers Holdings, meanwhile, will offer three billion common shares at a  price ranging from  P2 to P2.50 to raise as much as P7.5 billion.

The offer period will run from Nov. 4 to 10 while the tentative listing date is on Nov. 19. Proceeds from the public offering will be used to fund the company’s expansion, including to geographic territories’ particularly into the high-growth alcoholic beverage market.

Villar-owned AllDay Marts, operator of AllDay Supermarkets will offer 6.86 billion shares and up to 686 million option shares at a price of P0.60 per share.

The company will have its offer period from Oct. 18 to 25 and its listing on the PSE on Nov. 3.

All three share offerings have already been  approved by the PSE,  which continues to encourage companies to raise funds through the capital market.

In recent months, the PSE has  seen a number of real estate investment trust (REIT) listings, including  Filinvest REIT, the Gokongwei Group’s RL Commercial REIT  and Andrew Tan’s MREIT Inc.

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