Ultra bilyonaryo Manny Villar has some good news to loyal shareholders of AllDay Supermarket (ALLDY).
Villar’s AllValue Holdings, ALLDY’s parent company, declared it would not be selling its shares 2.615 billion shares or 11.1 percent stake in the fast-rising supermarket operator.
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“It will maintain its current ownership stake in the company post-IPO, even after the lock-up period of its shares expire on June 25, 2022,” said ALLDY in a statement.
“The AllDay board and management team hold a singular focus: to leverage the strong financial position that the Company gained. On this strength, the Company will turn towards expanding the elevated experiences that AllDay Supermarket offers as it continue to implement its strategies towards 100 stores by 2026,” ALLDY added.
ALLDY, which is currently trading at 50 percent below its offer price of 60 centavos, posted a net loss of P75 million in first quarter this year from P71.324 million profit during the same period in 2021.