AllHome Corp, the Philippines home-furnishings retailer, is looking to raise up to US$348 million in an IPO.
AllHome operates 25 large one-stop homewares and home-improvement stores, most of them in the nation’s capital city, Manila. The partial float would value the company at between $827 million and $1 billion, according to Reuters.
The shares will be listed on the stock exchange on October 10.
Robert Ramos, senior VP and trust officer at Eastwest Bank said that AllHome has a market advantage of already being entrenched in the category.
The company is likely to face competition when Ikea makes its debut in the Philippines in the Mall of Asia next year.
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