Robinsons Retail prices record Philippine IPO

The Gokongwei family’s retail arm fixes price at low end of the range but raises $621 million in the country’s largest new listing in US dollar terms.

Robinsons Retail prices record Philippine IPO

Robinsons Retail Holdings, an operator of more than 900 retail outlets in the Philippines, will raise Ps26.79 billion $621 million from its initial public offering after fixing the offer price slightly above the bottom of the indicated range at Ps58 per share.

The company, which is controlled by the Gokongwei family that is also the controlling shareholder of conglomerate JG Summit, food and beverage company Universal Robina and property developer Robinsons Land, initially offered the...

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