The Philippines Securities and Exchange Commission (SEC) recently officially approved the initial public offering (IPO) application of the well-known gaming company Hann Holdings Inc. in Clark Freeport Zone, aiming to raise up to 11.43 billion pesos (approximately 199 million USD). The company is the parent company of Hann Philippines Inc., which operates the iconic integrated resort Hann Casino Resort and is advancing another major project "Hann Reserve".
According to the announcement, Hann will issue up to 2.5 billion ordinary shares, with a public offering from September 9 to September 15, and is expected to debut on the main board of the Philippine Stock Exchange on September 23. The first round will offer 500 million shares, priced at 23.60 pesos per share, and includes an over-allotment option of 50 million shares.
Hann Group Chairman Han Dazhi stated that the funds raised will be used for the expansion of the existing casino resort in Clark, and the planned Intercontinental Hotel in "Hann Reserve" will be relocated to the Clark site, expected to be completed by 2029. Currently, Hann Casino already features brands such as Swissôtel and Marriott, with a total of 865 rooms, 200 gaming tables, and over 1000 slot machines. The expansion will add two floors, 35 gaming tables, 450 slot machines, 3 new restaurants, and a VIP area.
Furthermore, the "Hann Reserve" project plans to create a high-end resort complex in New Clark City, integrating a golf course, villa area, business center, and international school, and has attracted international brands such as Sofitel, Westin, and Banyan Tree.
The approval of this IPO is seen as a key signal for the Philippine gaming industry to move towards capitalization and institutionalization. With the POGO policy becoming clearer and regulation stabilizing, Hann's listing is expected to boost market confidence and attract more international capital and Chinese investors' attention.
