HOME improvement and construction supplies retailer Wilcon Depot Inc. is planning to list on the Philippine Stock Exchange (PSE) in March next year to raise up to P7.9 billion to fund its expansion plans and refinance existing debt obligations as well as other general corporate purposes.
In a prospectus filed with the Securities and Exchange Commission (SEC), Wilcon said it intends to sell 1.39 billion primary shares via an initial public offering (IPO) at an estimated price of up to P5.68 each.
The final offer price shall be determined prior to the targeted listing in March 2017.
The company said it plans to solidify its presence in existing markets and expand its foothold in fast-growing cities outside of Metro Manila by building additional stores in 2017 to 2019 in order to reach more Filipinos nationwide.
Wilcon has appointed First Metro Investment Corp. as the issue manager, lead underwriter, and and bookrunner for the IPO.
Operating its first branch in 1977, Wilcon is the home improvement and retail construction business of the Belo family, led by its chairman William T. Belo.
Since then, the company has expanded its network to 36 stores nationwide, with a complete spectrum of product offerings including local and international brands of tiles and flooring, plumbing and sanitary wares, electrical and lighting products, hardware and tools, furniture, furnishings and house ware, paints, and building materials, among others.
Wilcon operates its stores under the Wilcon Depot and Wilcon Home Essentials store formats.
The company is known for its one-stop shop concept for customers, industry-professionals, do-it-yourself (DIY) enthusiasts, and homebuilders for their home improvement and construction needs.