October 10, 2019 / 1:49 AM / 4 days ago

Philippines' AllHome shares debut higher after $250 million IPO

MANILA (Reuters) - Philippines’ AllHome Corp shares opened slightly higher on Thursday in their debut in the stock market after a $250 million share sale excluding over-allotment option.

Shares in the home furnishing retailer, owned by the Philippines’ richest man, gained 1.04% to 11.62 pesos ($0.2247) each, above the initial public offering (IPO) price of 11.50 pesos.

Reporting by Neil Jerome Morales; Editing by Tom Hogue

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