THE Securities and Exchange Commission (SEC) approved the initial public offering (IPO) of supermarket operator AllDay Marts, Inc. and the bond offering of oil company Petron Corp. under shelf-registration.

SEC said in a statement on Friday that AllDay Marts will offer up to 6.857 billion primary common shares at 80 centavos apiece, with an overallotment option of up to 685.71 million common shares.

The said shares will be listed on the main board of the Philippine Stock Exchange (PSE).

“Net proceeds from the sale of the primary offer shares could amount to P5.296 billion. The company could raise an additional P530.5 million, assuming the overallotment option is fully exercised,” SEC said.

Proceeds from the IPO will be used for debt repayment, capital expenditures, and initial working capital for the company’s store network expansion.

The IPO will be from Oct. 15 to 25, while the listing on the PSE is set on Nov. 3.

“AllDay Marts is a supermarket operator with a total of 33 stores spanning 55,881 square meters in aggregate net selling space, as of June 30. It plans to expand its store network to 45 by 2022 and 100 by the end of 2026,” SEC said.

PNB Capital and Investment Corp. is the sole issue manager for the transaction. It will also partner with BDO Capital & Investment Corp. and China Bank Capital Corp. as the joint lead underwriters and joint bookrunners for the offering.

Meanwhile, SEC also approved Petron’s fixed-rate, peso-denominated bonds worth P50 billion in one or more tranches within three years.

The first tranche of the bond offering will be up to P18 billion worth of four-year Series-E bonds due in 2025 and six-year Series F bonds due in 2027.

SEC said Petron expects to raise P17.78 billion from the first tranche of the bond offering.

“Proceeds will be used for the redemption of its Series A bonds, for the partial financing of its power plant project, and for the payment of existing debt,” SEC said.

“The bonds comprising the first tranche will be offered at face value from Sept. 27 to Oct. 5, in time for their listing on the Philippine Dealing & Exchange Corp. on Oct. 12, based on the latest timetable submitted to the SEC,” it added.

BDO Capital, China Bank Capital, Philippine Commercial Capital Inc., PNB Capital, and SB Capital Investment Corp. are the join lead bookrunners and joint lead underwriters for the offering.

First Metro Investment Corp., Land Bank of the Philippines, and RCBC Capital will be co-lead underwriters for Petron’s offer. — Revin Mikhael D. Ochave