The supermarket led by Billionaire Manny Villar is set to debut on the Philippine stock exchange (PSE) this October as its recent IPO request have been accepted by the Securities and Exchange commission. It will be listed on the PSE market with ticker symbol of “ALLDY”.

The company will try to rake in as much as 5.296 Billion upon fully subscription of its IPO. It plans to offer 6.9 Billion common shares and with an overallotment of 685.7Million. If overallotment is consumed the total IPO proceeds will reach more than 6 Billion pesos.

The offer price for ALLDAY mart is Php 0.8/share making it very attractive to small time retailers because it is quite affordable. Its line of products which includes basic needs will have no issue as well as this is a basic necessity product lines.

Allday IPO important dates include its Offer period from October 18-25, 2021 while its listing date will on November 3, 2021

Majority of the shares will be under Institutional investors taking in as much as 70% of the allocated IPO shares while small retailers will comprise of the remaining 30%. Breaking it down further will result to 20% allocation for trading participants while 10% for the retailers like us.

Minimum subscription for ALLDAY shares will be at multiple of 1,000 shares .

For Allday Mart background, currently it has 33 Supermarkets (located mostly in Cavite Area) in 25 cities and municipalities. Total floor space is now at 55,881. It recorded P4.5Billion in sales and P179.6million net profit in 1st half  of 2021. This is Equivalent to 19.7% and 55.8%  y/y profits

Allday IPO proceeds will be utilize for;

•It will pay its debt and fund expenditures (77.5% or 4.1 Billion of proceeds for loan)

•It will expand its store network expansion (22.5% of IPO)

•Aims to have 45 stores by 2022 and 100 stores by 2026

As fat as the financial statement of ALLDAY, it has been earnings good income for the past years. 1st half for 2021 is more than 50% higher net income as compared to the same period last year.

The Philippine market stayed on course and up for the fourth day again with a gain of 0.52% as Banko Sentral ng Pilipinas (BSP) release its monetary rates benchmark policy rate at its lowest level of 2% to support economic recovery in the country. Overnight deposit and lending rates were also maintained at 1.5% and 2.5%, respectively.

PSEI index closed at 6,951.53 level with net foreign selling of -352Million. Foreigners is keeping the index just below 7,000 level with massive selling at pre close period.

For the Blue chips sector, ACEN(4.65%) led the group together with CNVRG (4.65%). CNVRG is the most actively traded stock.

1ACEN 4.65%

2CNVRG 4.29%

3PGOLD 3.74%

4RLC 2.82%

5BDO 2.07%

6AP 1.87%

7AC 1.87%

8RRHI 1.42%

9MBT 1.35%

10GTCAP 1.24%

11SMPH 1.23%

12AGI 1.17%

13MEG 1.06%

14ICT 1.04%

Index sector showed that property and industrial sector led the group.

BSP Kept Interest Rates at its lowest level of 2%

Bangko Sentral says to continue providing essential service despite ECQ |  ABS-CBN News
Banko Sentral ng Pilipinas

BSP kept its interest rates at the low levels to maintain its support for Philippines economic recovery as the expectation of inflation cause by low supply of commodities will cause prices to spike up in the future. This has been announce yesterday during their briefings.

Central bank governor Benjamin Diokno stated during this press release that “Together with appropriate fiscal and health interventions, keeping a steady hand on the BSP’s policy levers will allow the momentum of economic recovery to gain more traction by helping boost domestic demand and market confidence”.

Last month inflation data peak at 4.9% which is already much higher than the BSP estimate of around 4.4%. Benjamin Diokno has attributed this case due to African swine fever that hit the production of meat products and the continuous effects of the storms that have entered the country.

BSP’s next meeting for policy rates would be in November 18 and December 16 of this year.