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Richmond Mercurio - The Philippine Star
June 2, 2025 | 12:00am
MANILA, Philippines — Hann Holdings Inc., the company behind the Hann Casino Resort in Pampanga, is targeting to raise as much as P12.98 billion in what could potentially be the country’s third initial public offering (IPO) for this year.
Based on the company’s preliminary prospectus dated May 30, 2025, Hann Holdings is targeting to issue a total of 550 million shares priced at up to P23.60 each.
The offering includes a primary offer of up to 500 million common shares and an over-allotment option of up to 50 million secondary common shares.
The company is eyeing the IPO by September, subject to the approval of the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE).
CLSA Ltd. has been tapped as sole global coordinator and joint bookrunner, while Asia United Bank Corp., BDO Capital & Investment Corp., China Bank Capital Corp. and PNB Capital and Investment Corp. will serve as domestic underwriters and joint bookrunners.
The company will use the IPO proceeds to support its expansion plans.
Hann Casino Resort is the first fully integrated resort in Clark Freeport Zone, Pampanga.
It is the home of the first five-star hotel in Central Luzon, Clark Marriott, and the first Swissotel Clark in the Philippines.
The company is also developing Hann Reserve, a 450-hectare luxury estate development at New Clark City in Tarlac.
The estate will feature three 18-hole championship golf courses and will be home to exclusive, ultra-luxury villa residences and condominium towers.
So far, only one company has gone public this year, with Top Line Business Development Corp. raising P732.6 million from its IPO last February.
Maynilad Water Services Inc., meanwhile, is targeting to raise up to P45.8 billion from the offering of up to 2.29 billion common shares at a maximum price of P20 apiece.
The indicative offer period for Maynilad’s IPO is from July 3 to 9, 2025, with a proposed listing date of July 17, 2025.
Maynilad, however, said the dates remain subject to confirmation pending receipt of final approvals from the SEC and the PSE.
The company said while a formal demand assessment has yet to take place, initial investor feedback from ongoing meetings has been encouraging.
“We thus remain confident as we proceed to the next phase of the IPO process,” it said.
BDO Capital & Investment president Eduardo Francisco told The STAR that internet service provider InfiniVAN Inc.’s planned IPO could also push through by the end of the year.
Francisco earlier said that InfiniVAN is looking to raise between P2 billion and P3 billion from a planned offering at the end of this year or early next year.
“We’ll wait for GCash, it’s on the sidelines. Then there’s Maynilad. So GCash, Maynilad then InfiniVAN then one or two (IPOs) more, then we’re good for the year,” he said.
The PSE is targeting a total of six IPOs for 2025 from only three last year: OceanaGold Philippines Inc., Citicore Renewable Energy Corp. and NexGen Energy Corp.
