The corporate regulator announced Wednesday that it has given the go signal for the convenience store and supermarket brand to list on the Philippine Stock Exchange for 7.6 billion common shares, 1.6 billion of which will be offered to public investors at ₱1 each.
Of the amount, MerryMart said it will receive ₱1.47 billion which it will use to fund new stores, as well as for working capital for distribution centers. SEC said MerryMart is looking to add 12 new stores by June, while 100 branches are eyed by end-2021. The proceeds of the public offering will fund 10 MerryMart Groceries, one MerryMart Market, and 14 MerryMart stores.
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