Close  

SEC approves Dennis Uy’s gaming firm PH Resorts’ P18.5B equity offer

/ 04:53 PM January 24, 2019
SEC approves Dennis Uy’s gaming firm PH Resort's P18.5B equity offer

Dennis Uy

MANILA, Philippines – The Securities and Exchange Commission (SEC) approved Thursday an P18.5-billion follow-on offering planned by PH Resorts Group Holdings Inc. (PHR), a gaming business firm led by Davao-based businessman Dennis Uy.

Based on a registration statement filed with the SEC, PHR plans to offer 2.054 billion common shares at a maximum price of P9 per share.

ADVERTISEMENT

The base offer consists of 1.786 billion shares but additional 267.94 million shares are earmarked for stabilization-related option.

PHR earlier gained backdoor ticket to the local stock exchange through Philippine H2O Ventures Corp. (H2O).

FEATURED STORIES

Proceeds will be used to fund the design, construction, and development of the first phase of The Emerald in Cebu and Clark Resort in Pampanga as well as the expansion of the Donatela Hotel in Palawan.

About 90 percent of the company’s shares are owned by Udenna Corp.//30

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, business news, Cebu, Clark Resort, Dennis Uy, Donatela Hotel, Gaming, H2O, local news, News, Palawan, Pampanga, PH Resorts Group Holdings Inc., Philippine news updates, SEC, The Emerald, Udenna Corp.
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.