AllDay Marts Inc. filed its application to the Securities and Exchange Commission (SEC) for its PHP 6 billion (USD 120 million) initial public offering (IPO). The proceeds from IPO will be used for debt repayment and capital expenditure to continue its expansion.
AllDay started its operation in 2016 and has grown its supermarket stores to 33 in 25 cities and municipalities in the Philippines as of June 2021. It aims to expand its network of supermarkets to 45 in 2022 and 100 by the end of 2026. The company intends to expand in cities and municipalities where they are currently located as well as in tier-1 cities across the Philippines.
AllDay is part of the Villar group of companies together with Vista Land and Lifescape, Inc. and Golden MV Holdings. It is also a subsidiary of AllValue Holdings Corp. along with AllHome, AllDay RX, Coffee Project, Ruined Project, Bake My Day, Gastroville, Paluto, Finds and AllDay Convenience Stores.
(Sources: The Philippines Star; Manila Times; BusinessWorld)