SEC clears Hann Holdings initial public offering

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

SEC clears Hann Holdings initial public offering

Benise Balaoing,

ABS-CBN News

Clipboard

MANILA -- The Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of resort developer Hann Holdings Inc.

In a statement, the SEC said its commission en banc approved the firm's registration, which covers up to 2.5 billion common shares.

Hann Holdings will offer 500 million primary shares at P23.60 each. This already includes an overallotment option of up to 50 million shares to be offered by its selling shareholder, Hann Group Holdings W.L.L., at the same price.

The IPO is expected to raise P11.43 billion, which will fund expansion plans and general corporate expenses of its wholly-owned subsidiary, Hann Philippines Inc. 

ADVERTISEMENT

Hann Philippines owns Hann Casino Resort, an integrated resort in Clark Freeport Zone in Pampanga. The company is also developing Hann Reserve, a luxury estate development that will include villa residences, condominiums, and an 18-hole championship golf course.

The offer period is from September 9 to 15, in time for its listing on the Philippine Stock Exchange main board on September 23.

CLSA Limited will act as the sole global coordinator and joint bookrunner, while Asia United Bank Corporation, BDO Capital & Investment Corporation, China Bank Capital Corporation, and PNB Capital and Investment Corporation will be the domestic underwriters.

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.