A person who was familiar with the matter said on Thursday Philippines-based Robinsons Retail Group had started studying investor sentiment in the company's planned initial public offering. The company, who is an operator of local retail chains such as Topshop and Toys "R" Us, could raise up to USD800 million should it decide to go public. The Robinson Retail IPO would be poised to eclipse Travellers International Hotel Group Inc's share sale as the biggest public listing in the Philippines this year at USD460 million.
The investor demand gauge, which is called premarketing, would last for one week. Should the bankers see a strong demand, they would start taking orders. One of the people who were familiar with the test said the IPO would happen at the end of the month or early November.
Robinsons is an operator of department stors, hardware, fashion outlets and supermarkets. It has a total of 72 branches. It is currently owned by Philippines' fourth richest person in the world billionaire John Gokongwei, his family also owns conglomerate JG Summit.
When asked for comment, a JG Summit Holdings representative refused to provide one.
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