Robinsons Retail formally files IPO application

Gokongwei-led Robinsons Retail Holdings Inc. has formalized plans to tap the equities market with the filing of an initial public offering application with the Securities and Exchange Commission that aims to raise as much as P40.018 billion.

Robinsons Retail, a unit of conglomerate JG Summit Holdings Inc., is offering up to 461.897 million common shares at a maximum price of P86.64 apiece.

The company has tapped Deutsche Bank AG, JP Morgan Securities Plc, and UBS AG as joint global coordinators and bookrunners and international lead managers.

Maybank ATR Kim Eng Capital Partners will serve as the sole domestic lead underwriter.

A total of 1.385 billion shares shall be outstanding after the offer.

Documents filed with the PSE show that up to 70 percent of the shares will be sold outside the US while the balance of 30 percent will be offered in the Philippines.

The IPO, which would be among the largest in the Philippines, is slated for the third quarter of the year, depending on market conditions.

Robinsons Retail operates 35 department stores, 73 supermarkets, 362 Ministop convenience stores. It also owns fashion specialty stores and the Toys R Us Inc. franchise in the Philippines. — BM, GMA News