MVP firm plans P83-B stock market debut | Inquirer Business
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MVP firm plans P83-B stock market debut

/ 05:31 PM September 04, 2019

Metro Pacific Hospital Holdings Inc. (MPHHI), operator of the largest hospital chain in the Philippines, is planning an P83-billion stock market debut.

By selling a mix of primary and secondary shares, the plan would raise fresh funds for MPHHI while also pushing an asset selldown for its parent conglomerate Metro Pacific Investments Corp. (MPIC) led by tycoon Manny V. Pangilinan.

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According to a prospectus filed at the Securities and Exchange Commission dated Sept. 4, MPHHI seeks authority to sell as much as 457.86 million shares at a maximum price of P182 per share.

UBS, Bank of America Merrill Lynch, CLSA and JP Morgan were mandated to be the sole global coordinator and joint international book runners for the offering.

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Local investment houses First Metro Investment Corp., BDO Capital and Investment Corp. and BPI Capital Corp. were appointed as joint domestic lead underwriters.

Subject to regulatory approval, the plan is for the public offering to run from November 18 to 22 while listing on the Philippine Stock Exchange is targeted by Dec. 2 this year.

Proceeds from the sale of primary shares will be used to invest In morel hospitals, cancer centers, clinics and new healthcare businesses./TSB

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TAGS: conglomerate, debut, hospitals, pangilinan, shares, stocks
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