Quantcast
Latest Stories

Robinsons Retail initiates IPO process

By

Lance Gokongwei AFP FILE PHOTO

MANILA, Philippines — While waiting for the right time,  the group of tycoon John Gokongwei has started preparing the groundwork for an initial public offering or IPO of retail unit Robinsons Retail Holdings Inc. which, at P40 billion, could be the largest stock debut in the country.

Taking advantage of the strong investor interest on the local consumer segment alongside a faster-growing economy, Robinsons Retail Holdings has submitted an application to the Securities and Exchange Commission for the offering of up to 461.897 million primary shares at a maximum price per share of P86.64.

The Gokongweis’ retail group is one of the country’s biggest retailers alongside SM Retail and Puregold Price Club.  It has 27 years of retailing experience with its chain of department stores, supermarkets, hardware and home improvement outlets, appliance stores, fashion specialty stores, convenience store and the toy store Toys R’ Us.

Documents from the SEC showed that this offering, 70 percent of which is targeting international investors, will bring to public hands about a third of the company’s post-IPO capitalization.

Robinsons Retail has mandated Deutsche Bank AG Hong Kong branch, JP Morgan Securities, plc and UBS AG Hong Kong branch as joint global coordinators, bookrunners and international lead managers for this this offering, based on the documents.  Maybank ATR Kim Eng Capital Partners was also appointed sole domestic lead underwriter.

Proceeds from the IPO are expected to be used to expand various retailing formats.

Lance Gokongwei, president of JG Summit Holdings Inc., said this unit would be operated as a holding firm for all retailing units and that there were no plans to fold it into the conglomerate in the future.

JG Summit controls several other publicly listed companies: food group Universal Robina Corp., property developer Robinsons Land Corp. and budget carrier Cebu Air.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , IPO , Markets and Exchanges , Robinsons , Robinsons retail , Stock Market



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Camilla’s brother dies in US after head injury
  • Luisita farmers storm DAR compound
  • Trillanes, Ejercito confident they are not in Napoles’ list
  • Easterlies to prevail in Luzon, Visayas
  • Lacson eyes P106-B ‘Yolanda’ rehab masterplan
  • Sports

  • Mixers trim Aces; Painters repulse Bolts
  • Donaire junks Garcia as coach, taps father
  • ’Bye Ginebra: No heavy heart this time
  • UAAP board tackles new rules
  • Baguio climb to decide Le Tour de Filipinas
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • In love … with acting
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Obama arrives in Tokyo, first stop of 4-nation tour
  • Marketplace