Wilcon Depot pushes IPO plan

By Iris Gonzales (The Philippine Star) | Updated January 6, 2017 - 12:00am

MANILA, Philippines Wilcon Depot Inc., the countrys leading home improvement
and construction supplies retailer, is on track with its plan to debut in the local stock
market in the first quarter of the year, its underwriter First Metro Investment Corp.
(FMIC) said yesterday.

Justino Ocampo, FMIC executive vice president and head of investment banking
group, said the environment was conducive for Wilcons listing.

We think the environment is ripe to do equity issues especially in the first half,
Ocampo said.

Wilcon has formally filed an application with the Securities and Exchange
Commission (SEC) to embark on an initial public offering (IPO) in March 2017.

Based on the prospectus filed with the SEC, Wilcon is looking to raise up to P7.9
billion through the sale of 1.39 billion primary shares at a maximum price of P5.68
per share.

The offering will commence on March 13 and end on March 17 while the listing of
the shares has been tentatively set on March 23.

Proceeds from the IPO will be used to fund the companys expansion as it solidifies
its presence in existing markets and seeks to widen its market in fast- growing cities
outside Metro Manila.

It plans to build additional stores from 2017 to 2019 in order to reach and help
more Filipinos nationwide.

The company is specifically eyeing to expand in Cavite, Zamboanga, Iloilo, Tacloban,

Cabanatuan, Bicol, General Santos, Davao, Lucena, Isabela, Tagum, Tuguegarao and
Surigao.

Source: http://www.philstar.com:8080/business/2017/01/06/1659902/wilcon-depot-
pushes-ipo-plan