CEBU, Philippines -- MerryMart Consumer Corp., the grocery operator owned by young tycoon Edgar Sia II, has filed to raise up to 1.6 billion pesos ($31 million) in an initial public offering in the Philippines to finance its nationwide expansion program.
Sia, 43, the 28th richest person in the Philippines, is behind brands such as Mang Inasal, which was acquired by Jollibee Foods Corp. for 5 billion pesos in a two-step share purchase in 2010 and 2016, and listed real estate company DoubleDragon.
