MANILA — Hann Resorts, an operator and owner of an integrated casino-resort in the Philippines, is planning an initial public offering (IPO) worth 15 billion to 20 billion pesos ($256.6 million to $342.2 million), the chief of the country’s gaming regulator said on Tuesday.
Hann Resorts, led by Korean Dae Sik Han, has a target of listing on the Philippine bourse early next year, Alejandro Tengco, chairman of the gaming regulator, told Reuters.
“The growth story is they have a casino expansion including three championship golf courses and five-star hotels,” Tengco said.
Hann Resorts CEO Han did not immediately respond to a request for comment. The news of the IPO was first reported by news site InsiderPH on Monday.
The company is weighing whether it can pursue an IPO this year, with fresh capital allotted for expanded gaming activities and development of Hann Reserve, a banking source with knowledge of the deal said on Tuesday.
($1 = 58.45 Philippine pesos)
—Reporting by Neil Jerome Morales; Editing by Martin Petty
