Hann Holdings' IPO approved, Sept listing
The Philippine Stock Exchange is set to welcome its second initial public offering (IPO) of 2025 following the Securities and Exchange Commission's approval for Hann Holdings Inc.'s IPO.
Hann Holdings, operator of an integrated gaming resort in Clark Freeport Zone, plans to offer up to 2.5 billion common shares, including 500 million primary shares at P23.60 each with an overallotment option of up to 50 million shares.
The company intends to use the IPO proceeds for funding expansion plans and general corporate expenses of its wholly-owned subsidiary, Hann Philippines Inc., which includes developing a luxury estate project called Hann Reserve in addition to the existing Hann Casino Resort.
CLSA Ltd. will act as sole global coordinator and joint bookrunner alongside several domestic underwriters including Asia United Bank Corporation, BDO Capital & Investment Corporation, China Bank Capital Corporation, and PNB Capital and Investment Corporation.
Shares will be offered to the public from September 9 to September 15, with listing on the main board of the Philippine Stock Exchange scheduled for September 23.
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