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Philippine Retailer Appoints Banks for Up to $800 Million IPO

Robinsons Retail Group, operator of retail chains including Toys "R" Us and Topshop in the Philippines, has appointed banks to manage an up to $800 million initial public offering that is poised to be the country's largest so far this year.The planned IPO for the retail chain owned by Philippine billionaire John Gokongwei comes at a time when foreign and domestic investors are gravitating toward the country's capital markets, attracted by rising domestic consumption and a red-hot stock market. The Philippine equities market is up 26.3% year to date, stronger than any other market in Southeast Asia.The country's second-largest multiformat retailer has hired Deutsche Bank AG (DB), J.P. Morgan Chase Co. (JPM) and UBS AG (UBS) to manage the IPO, people with knowledge of the deal said Wednesday.Robinsons Retail Group operates department stores, supermarkets, as well as fashion retailer outlets. It has 72 branches across the country with stores such as True Value hardware, Topshop and Ben Sh...

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