As my good friend Lynlyn said, we the former Robinson babies should be proud with the company we work or dealt with before which is now approved for a record IPO.
Yes before becoming a CPA I had a 6 month stint working as an accounting clerk in Robinsons Supermarket in their Libis office. I was gunning for my second attempt at that time for the CPA Licensure exam. My 6 month work experience at Robinsons where I learned things about how accounting work is will always be remembered.
And now to our surprise, the holding company of Robinsons Supermarket, Handyman, Ministop(Japanese franchise), RDS(Robinsons Department Store), South Star Drug, Toys R Us,and other retail formats is now approved for its IPO. To read a copy of the submitted Preliminary Prospectus of Robinsons Retail Holdings Inc. to SEC(Securities & Exchange Commission) click here.
Robinsons Retail expects to raise P39.05 billion from the primary offer, of which most, or P33.6 billion, will be utilized for expansion.
“It (the company) intends to use majority of the net proceeds form the primary offer to partially fund capital expenditures in connection with the establishment of new stores and the remaining proceeds will be used to fund renovation of existing stores and repayment of all outstanding bank loans,” the prospectus states.
The said IPO would be considered a record due to the expected proceed of up to Php 42 Billion.