MERRYMART PLANS IPO | Marvin Germo
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MERRYMART PLANS IPO

By: Marvin Germo | January 28, 2020

First IPO Plan This 2020

Have you heard MerryMart before? If not yet, this grocery store planning to offer a P1.6-billion initial public offering by the end of the first quarter. This was information disclosed by MerryMart Consumer Group this week. The application was filed already with the Securities and Exchange Commission (SEC). Per the application submitted, it will offer 1,594,936,709 primary shares, which will be sold at P1 each. The offer period is planned to be on March 23 to 27, to be listed at the Philippine Stock Exchange on April 2. Are you excited about this news? Here are some of the details about the company and the offer.

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The Reason For IPO

MerryMart has every reason to go public this year. The company said that it would like to take advantage of its know-how in franchising and familiarity of the Philippine market terrain. Just the same as the rollout of Hotel 101, Mang Inasal, CityMall, and CentralHub network, the firm thinks that this will solidify its market grip of all industries where the group is involved. If that’s going what Merrymart thinks about its business, then going public is not a problem especially that its group has a big network of investors.

Use of Proceeds

Per the statement of MerryMart, the proceeds from its IPO will be utilized to give backup to its expansion plans with different sizes. The expanded stores will be named as MerryMart Market, MerryMartStore, and MerryMart Grocery. Since it can foresee that its 3 in 1 innovation and expansion will be operationally efficient, franchising is the number strategy of the company. This strategy will scale and build up its competitive advantage and create more business opportunities. The company has no plans to expand the retail business but based on its experiences, it realized that there is a future in this type of industry and the firm wants to use that to its advantage.

About MerryMart

For those who have no idea who is MerryMart, it is a wholly-owned subsidiary of Injap Investments, Inc. It is owned by Edgar “Injap” J. Sia II, the founder of Mang Inasal Philippines and a key shareholder of DoubleDragon Properties Corp. MerryMart has 4 fully operational supermarkets and 27 branches are scheduled to open by the second quarter of this year. The company targets to have at least 600 branches by 2025 and 1,200 by 2030. These stores will help generate up to P120 billion in revenues. Sounds interesting? Well, let’s see how this goes!

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