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Retail

Philippines supermarket chain MerryMart files for $31m IPO

Store operator targets 1,200 branches nationwide in expansion program

MerryMart’s owner sees the transition from traditional to modern retail continuing in the Philippines.   © Reuters

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.

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