Philippine supermarket operator AllDay Mart files for IPO

Philippine supermarket operator AllDay Mart files for IPO
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MANILA (Aug 18): Philippine company AllDay Marts Inc, a supermarket operator, has filed for an initial public offering on the local bourse, the corporate regulator said on Wednesday.

AllDay Mart is planning to sell up to 7.5 billion shares, including the over-allotment option, at a maximum price of 0.80 pesos ($0.0159) per share, which could raise as much as 6 billion pesos ($119.14 million), filings with the Securities and Exchange Commission showed.

AllDay is owned by the family of Manuel Villar, the Philippines' richest man.