MANILA, Nov 3 (Reuters) – Shares of Philippine supermarket operator AllDay Marts Inc ALLDY.PS soared 50% on their market debut on Wednesday, following the latest in a raft of initial public offerings in the Southeast Asian country.
AllDay, owned by the family of Manuel Villar, the Philippines’ richest man, priced its $89 million IPO at 0.60 pesos per share. The stock opened at 0.90 pesos, hitting the day’s upside limit. nL1N2PP02P
(Reporting by Enrico Dela Cruz; Editing by Christopher Cushing)
This article originally appeared on reuters.com