Robinsons Retail Holdings (RRHI) IPO

The retail arm of the Robinsons Group of Companies is set to offer its shares to the public in an Initial Public Offering (IPO) scheduled this October.

The Philippine Stock Exchange (PSE) approved the IPO application of Robinsons Retail Holdings, Inc. which plans to raise up to P42 billion in said offering.

Shares Offered and IPO Price

The company plans to issue 461.89 million primary shares and an additional 22.85 million shares through an over-allotment option in case of strong demand.

The final offer price is to be determined on October 25 but Robinsons Retail Holdings said it will not exceed P86.64 per share.

If the maximum price is reached and the total number of shares including those for over-allotment are sold, the company will raise more than P41.99 billion — one of the highest IPOs in the Philippines in recent years.

Usage of IPO Proceeds

According to the company, cash proceeds from the IPO will be used for expansion purposes. Specifically, it will be used to open new branches and renovate existing stores of Robinsons Supermarkets, Robinsons Department Stores, Handyman Do-It-Yourself shops, and its other specialty, drug and convenience stores. A portion will also be used to pay outstanding bank loans.

As of June 2013, Robinsons Retail Holdings Inc. runs a total of 940 stores all over the Philippines, with 428 stores in Metro Manila, 423 in the rest of Luzon, 55 in Visayas and 34 in Mindanao.

The company is the direct competitor of the Henry Sy-led SM conglomerate which consolidated all its property units under the SM Prime Holdings (SMPH) brand.

Offer Period, Stock Ticker and Listing Date

The Robinsons Retail IPO offer period will run from October 29 until November 5.

The company will be listed and its stock will start trading on the PSE in November 11.

The stock code is RRHI.

The IPO will be facilitated by joint global coordinators and international lead managers UBS, Deutsche Bank  and J.P. Morgan. The sole lead domestic underwriter is Maybank ATR KimEng Capital Partners Inc.

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