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MANILA, Philippines – Wilcon Builders, one of the country’s retailers of construction materials and hardware, plans to build a P6 billion initial public offering (IPO).
Industry sources stated that the main goal of the IPO expansion is for its fundraising, wherein the proceeds will be used for its expansion program.
The company has been silently preparing for the IPO since early 2016. Before the company goes public, the management is also planning to include its restructured corporation. This restructuring program seems to be essential for the company shift from private to public.
One source claimed that because of the preparations, the company is not scheduled to go public this year. There is a brand recall in the sector, claimed one reference in the construction industry. The deal could be attractive to investors if this brand recollection is valued properly.
The retail company, which is founded by William Belo, a Chinese entrepreneur, is dubbed as the “Puregold of construction-supplier retailers”. This is due to the fact it has opened a nationwide network of big and air-conditioned retail branches in the previous years.
The official website of the company claims that the retail started as a small hardware store in 1977, which was located along Quezon Avenue.
Wilcon Builder’s Depot, its sister’s company, was launched in 2003. The first outlet of its sister retail store is located in Las Piñas. The store prides its complete set of products, bigger area, and unprecedented services to its clients. As years passed, the company continued to grow. At present, it provides Filipino homebuilders solutions for the development of properties.
In Metro Manila and various provinces, Wilcon Depot and Home Essentials presently have at least 37 branches.
Apart from giving customer satisfaction, the goal of the company is to give only high-quality products.
The management also opened up going into e-commerce industry, which will respond to growing requirements of its customers.
The company claims that it had revolutionized the industry of construction supplies as it pursued convenient buying and unsurpassed services. Among its many services are coffee shops for depots, ample parking spaces, air-conditioned shops, consultation for interior design, tile-cutting, delivery services, installation of products, and repair. For the past 39 years, its products and services have built a name for the company and pushed it to become a construction supply industry pioneer.
The construction-supply company also offers sanitary wares, electrical supplies, plumbing supplies, outdoor accessories, automotive materials, and paints among others.