The gaming company has set the price for a follow-on offering as part of fundraising to complete its Emerald Bay project.<\/p>\n\n\n\n\n\n\n\n
Philippines.- Gaming and hospitality firm PH Resorts Group Holdings, part of the conglomerate Udenna Corporation, has announced it has set an offer price for a follow-on offering of up to 450 million primary common shares to raise funds for its Emerald Bay project.<\/p>\n\n\n\n
It has priced the offering at Php1.68 per share, a 32.8 per cent discount from the top end of its price range.<\/p>\n\n\n\n
PH Resorts Group intends to raise funds for the construction of Emerald Bay, a new integrated resort project underway in Mactan, Cebu. <\/p>\n\n\n\n
The company said the tentative start date for the offer period is October 21, to run for one week subject to the receipt of an SEC Permit. Listing of shares is scheduled for November 5.<\/p>\n\n\n\n
PH Resorts Group Chairman Dennis Uy, said: \u201cAnother achievement unlocked. We are one day closer to our cherished dream of completing Emerald Bay. At the offer price, investors will be given a good opportunity to get in early at attractive valuation levels.\u201d<\/p>\n\n\n\n
The first phase of Emerald Bay, which is expected to open in 2022 after a soft launch at the end of 2021, will feature 122 gaming tables split between mass, premium mass and junkets, plus 600 EGMs and 270 hotel room bays located alongside a 300-metre strip of beachfront.<\/p>\n\n\n\n
PH Resorts Group said it holds a seven-year exclusivity agreement with the City Government of Lapu\u2010Lapu.<\/p>\n","protected":false},"excerpt":{"rendered":"
The gaming company has set the price for a follow-on offering as part of fundraising to complete its Emerald Bay project.<\/p>\n","protected":false},"author":2,"featured_media":11007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PH Resorts Group Holdings, a subsidiary of Udenna Corporation, has priced a follow-on offering of up to 450 million common shares at Php1.68 each. This capital raise, discounted by 32.8%, is intended to fund the ongoing construction of its Emerald Bay integrated resort project in Mactan, Cebu. The first phase of Emerald Bay, featuring 122 gaming tables and 600 EGMs, is slated for a soft launch by late 2021.","focusai_entities":"PH Resorts Group Holdings, Udenna Corporation, Dennis Uy, SEC, City Government of Lapu\u2010Lapu","focusai_location":"Philippines, Mactan, Cebu, Lapu\u2010Lapu City","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.75), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Emerald Bay Valuation Impact","query":"How does the 32.8% discount on the follow-on offering impact PH Resorts Group's overall market capitalization and the perceived valuation of the Emerald Bay project for institutional investors?"},{"label":"Regulatory Exclusivity Implications","query":"What are the specific terms and conditions of the seven-year exclusivity agreement with the City Government of Lapu-Lapu, and how does this regulatory framework influence competitive entry and market saturation in Cebu?"}],"footnotes":""},"categories":[160,157,161,158,16333],"tags":[29,128],"class_list":["post-11002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-daily-news","category-slider-home","category-south-east-asia-news","tag-casino","tag-philippines"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11002"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11002\/revisions"}],"predecessor-version":[{"id":11018,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11002\/revisions\/11018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11007"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}