SEC approves ACE Medical Center Zamboanga’s direct public offering
MANILA, Philippines — The Securities and Exchange Commission (SEC) has given the green light for the direct public offering (DPO) of Allied Care Experts Medical Center-Zamboanga Inc. (ACE-MCZ), with a potential value of up to P1 billion.
In a meeting held on June 6, the Commission En Banc approved the registration statement for ACE-MCZ, which includes 360,000 common shares. This approval is contingent on the company fulfilling specific remaining requirements.
Operating under the trade name Premier Medical Center Zamboanga, ACE-MCZ plans to offer 3,600 blocks of shares, each consisting of 15 shares, priced between P150,000 and P400,000 per block.
The company aims to raise a net amount of P997.51 million from this offering. The funds will be allocated for the construction of its hospital, the acquisition of medical equipment, loan repayments, as well as pre-operational and operational expenses.
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Currently, ACE-MCZ is building the Premier Medical Center Hospital, a 10-story facility with a 200-bed capacity located in Barangay Tetuan, Zamboanga City. The hospital is expected to be completed by the end of the second quarter of 2024.
The shares will be available for purchase over the counter, facilitated by the hospital’s internal staff, and will primarily target medical specialists and their relatives.
The DPO for ACE-MCZ was filed under the SEC’s Securing and Expanding Capital for Hospital Entrepreneurs (SEC HOPES) program, which is designed to streamline the process for public offerings aimed at financing hospital projects, thereby enhancing the medical industry’s access to capital.
This article was generated with the aid of artificial intelligence and reviewed by an editor.
