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Hann赌场推迟赴菲上市,韩裔富豪称长期前景依然强劲
Sou Hu Cai Jing· 2025-08-24 00:58
Core Viewpoint - Hann Holdings, controlled by South Korean tycoon Dae Sik Han, has postponed its planned IPO due to unfavorable capital market conditions, but emphasizes that this decision does not reflect a deterioration in its fundamentals and that long-term development plans will continue [2][4]. Group 1: IPO Postponement - The IPO was originally scheduled for September 9-15, 2025, with plans to sell up to 550 million shares and raise approximately 13 billion pesos [4][5]. - The decision to delay the IPO is based on market and investor sentiment, as the current market conditions do not allow for a fair representation of the company's value and potential [4][5]. - The company plans to reconsider the IPO when market conditions improve, with no expectation of completing the issuance this year [4][5]. Group 2: Future Expansion Plans - Hann Holdings intends to use the funds from the IPO for approximately 57 billion pesos in capital and operational expenditures, including investments in gaming, hotels, and the 455-hectare Hann Reserve integrated development project [5]. - Despite the IPO delay, the company will continue its expansion, albeit at a slower pace, indicating a strategic adjustment rather than a halt [5]. - The Hann Casino Resort, located in the Clark Freeport Zone, has shown resilience post-pandemic, with revenue projections of 12.57 billion pesos for 2024 and a 35% year-on-year increase in Q1 2025 revenue to 3.42 billion pesos [5]. Group 3: Market Outlook - The company remains optimistic about the potential of the Philippine capital market and plans to restart its IPO when conditions are favorable [5]. - The management expresses a commitment to contribute to the ongoing development of the Philippine capital market [5].