Hann Resorts plans US$342.2m IPO

The IPO would fund a casino expansion and development of Hann Reserve.

The Philippines.- The Philippines Amusement and Gaming Corporation (PAGCOR) has announced that Hann Resorts is planning to pursue an initial public offering (IPO) valued at up to PHP20bn (US$342.2m) this year. It could be the largest debut stock offering in the Philippines since MREIT Inc’s PHP15bn IPO in 2021.

PAGCOR’s CEO and chairman, Alejandro Tengco, said Hann Resorts planned to use capital raised to expand gaming activities and developing, Hann Reserve, a 450-hectare luxury estate located in Tarlac province. Hann Resorts operates 147 gaming tables, 868 slot machines, two VIP clubs and two five-star hotels situated within a former US military air base in Pampanga province.