On October 10, AllHome Corporation made its market debut and the firm met its investors’ expectation as the shares gained 0.52% at the end of trading. That’s quite a big achievement on its debut. AllHome was able to raise about P14.9 billion after utilizing the over-allotment option. That day, the shares opened at P11.62, 1.04% higher than the initial public offering price of P11.50. It was the day’s peak while the low is at P11.42. The shares closed at P11.56 apiece. The stocks of the famous one-stop-shop home improvement store is now listed in the Philippine Stock Exchange Main Board under the stock symbol HOME.
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The chairman of AllHome, Mr. Villar, said that he was happy because of the positive result of the market debut. Although there was a heavy volume during that day, the price of stocks remained stable until the end. The market kickoff of AllHome is just an indication that even new companies can tap the stock market for their capital requirements. The stock market is still an option for firms that are hoping to find a way to finance their operations. And for the investors out there, it’s not only the existing companies that can give you good profits when you’re trading. Try those companies who just launched their IPO!
AllHome also disclosed that it plans to double the market share of 7.1% in the home improvement industry by 2020. The expansion will eye on Metro Manila and other places near it while the long-term plan of AllHome is to bring its business to the rest of Luzon, Visayas, and Mindanao. Once the company built 70 stores, from its 27 stores right now, it will start doubling its market share as planned. P3.5-3.6 billion of its fund will go to its capital expenditures that can be used until next year and major portion of the fund is funded by its IPO.
AllHome posted a P207.1 million net profit during the first quarter of 2019. This is five times higher than its 2018’s P43.6 million net profit. Meanwhile, the revenue went up to P2.38 billion or 68% higher than in the same period last year. The timing for AllHome to do IPO this year is perfect since the market has gone up and it’s continuously improving. The stocks of Villar have a great performance, which is ideal for investors in today’s market. The news that the firm is preparing for IPO could be the reason why Wilcon slipped by a total of 7% during the last four trading seasons.