ALL Value Holdings Corp., the retail arm of former Sen. Manuel Villar that operates All Home shops in the country, is next in a series of public listings of the companies owned by the Villar family, who now runs the country’s fifth-largest property developer.
Villar, who is also chairman of property developer Vista Land & Lifescapes Inc., said All Value may list during the next two years to three years, or when the company is able to hit its critical mass as it expands where the Villar family has a property.
“We’re open; we’re flexible. It depends on the profitability. Of course, we need the critical mass first,” Villar said, when asked about his IPO plans for All Value.
All Value also includes its own brand of supermarket, which, over the past few years, has replaced the grocery-store operators in all of the malls owned by Villar. These include those of Vista Land and Starmalls Inc. The Villar family also has its own brand of department stores and a chain of convenience stores, but its number is not able to match those of the major players, such as 7-Eleven stores.
“We now have two supermarkets; one of them is in Taguig. We’ll be putting up two more and one of them will be in Bataan. Within three months, we’re going to have five supermarkets,” Villar said.
Its first supermarket is in Starmalls, Shaw Boulevard in Mandaluyong City.
Villar said the inclusion of supermarkets into All Value’s portfolio creates a synergy with the other businesses of the company.
Currently, All Value only has All Home, a warehouse-type store that sells everything needed in the home, including furniture, furnishings and appliances, and construction materials.
Villar said All Home is targeting to open 20 stores by the end of the year, from the current number of about 11 branches, across the country.
All Home is still a separate entity from Vista Land, though its locations are in areas where either Vista Land or the Villar family has a property, such as the presence of its previous developments under the Camella and Palmera Homes subdivisions.
Villar said the new branches of All Home to be opened this year include those in Iloilo, Cagayan de Oro, Bulacan and Batangas.
The listing plans of the All Value follows those of the initial public offering (IPO) of Golden Haven Memorial Park Inc., a 30-year-old company owned by the Villars.
The Securities and Exchange Commission has approved its listing in the Philippine Stock Exchange, where Golden Haven plans to sell 74.11 million common shares for up to P10.62 apiece, raising P786.84 million in proceeds, according to the prospectus it filed.
“The shares represent 15 percent of the outstanding common shares of the company after the offer and will be issued out of the company’s authorized and unissued capital stock,” it said.
The net proceeds amounting to P711.77 million, after deduction of transaction fees and expenses, will be used to fund Golden Haven’s acquisition, growth and expansion strategies, it said.
“In particular, expanding its existing death-care facilities, products and services through undertaking land and site development of the undeveloped areas of its existing memorial parks,” the company said.
Golden Haven will also spend for land acquisition, construction of new memorial chapels and crematory facilities in Golden Haven Las Piñas Park and for general corporate purposes, including working capital requirements.
The company has tapped Asian Alliance Investment Corp. as its issue manager and lead underwriter for the IPO, which could happen during the second half of the year.