IPO of Villar firm, Axelum get gov’t OK

The Philippine Stock Exchange has approved the back-to-back initial public offering of Villar-led home improvement retailer All Home and coconut product exporter Axelum Resources Corp.

Up to P20.7 billion worth of All Home shares will be offered to the public in a mix of primary and secondary shares while Axelum’s equity deal can reach P7.7 billion.

Based on an offering circular posted by the PSE on Wednesday (Aug 28) Axelum – which is led by a group of local businessmen  – will be the first to conduct its offering from Sept. 24 to 30 and listing on the PSE’s main board under the trading symbol AXLM is tentatively set for Oct. 7.

The offering of All Home will start on Sept. 30 through Oct. 4. Listing on the PSE’s main board under the trading symbol HOME will be on Oct. 10./TSB