Philippines SEC Approves Hann Holdings’ IPO Plans
SEC Approves Hann Holdings’ Plan to Go Public
The Securities and Exchange Commission of the Philippines has officially approved the initial public offering (IPO) plans of Hann Holdings. This company, known for operating the Hann Casino Resort, is now set to enter the stock market later this year.
Details of Hann Holdings’ IPO
Hann Holdings owns the Hann Casino Resort, a prominent casino located within the Clark Freeport Zone in Pampanga. With the SEC’s approval, Hann Holdings is moving forward to offer its shares publicly.
The company intends to make available up to 500 million shares priced at PHP 23.60 each (approximately $0.41). Furthermore, if demand is strong, they plan to include an option to sell an additional 50 million shares at the same price.
The IPO offering is scheduled to take place from September 9 to September 15, with the shares expected to begin trading on the Philippine Stock Exchange on September 23.
Significance of Hann Holdings’ IPO in 2025 Market
With the SEC‘s approval, Hann Holdings has registered up to 2.5 billion common shares, pending further regulatory clearances. The IPO could raise as much as PHP 11.43 billion (around $200 million), which the company plans to use for business expansion, operational costs, and further development of its casino resort.
Should this IPO proceed successfully, Hann Holdings would mark the second public offering in the Philippines for 2025. The market has seen limited IPO activity this year, with the only other offering being from Top Line Business Development Corporation.
Ongoing Debate on Online Gambling Regulations
Meanwhile, discussions continue in the Philippines regarding the future regulation of online gambling. Some have proposed a complete ban on iGaming activities, but this suggestion has met strong opposition from several lawmakers.
Critics argue that prohibiting online gambling may not stop people from participating, but instead drive the activity underground. Representative Joseph Bernos emphasized that the government should maintain oversight to ensure iGaming remains regulated rather than banned outright.