Shares of Villar’s AllHome up 1.04% in market debut

Villar-led AllHome Corp. debuted on the Philippine Stock Exchange on Thursday, Oct. 10, opening at P11.62 per share, up 1.04% from its initial public offering price (IPO) of P11.50 per share. Ted Cordero, GMA News

Shares of Villar-led AllHome Corp. opened at P11.62 per share during its market debut on Thursday, up 1.04% from its initial public offering price (IPO) of P11.50 per share.

“The market is so far a bit warm to the company as it has opened and remained positive to start,” Regina Capital Development Corp. head of sales Luis Limlingan said.

Limlingan noted that AllHome is the largest IPO on the Philippine Stock Exchange in three years.

Listed on the PSE main board, AllHome offered 1,125,000,000 shares, representing 30% of its total issued and outstanding common shares.

“AllHome shares had a steady opening today trading at a tight range of P11.48 to P11.62 as of this writing. It’s not as volatile as the prior two’s opening, namely Kepwealth and Axelum,” Philstocks Financial equity analyst Japhet Tantiangco said.

“This shows that investors are a bit more cautious this time given the general market sentiment. Nonetheless, the share’s movement is biased towards the upside right now given the company’s good fundamentals and the proceeds of its IPO,” he said.

The company raised P14.9 billion from the sale of 1,125,000,000 shares and an overallotment option of 168,750,000 shares, making it this year’s largest IPO yet in terms of value.

The proceeds from the share sale will be used by the company to fund its capital expenditure and initial working capital for expansion and debt repayment. —VDS, GMA News