Hann Resorts applies for initial public offering

Hann Resorts Chairman and Ceo Dae Sik Han

MANILA, Philippines — Hann Resorts, the integrated gaming resort arm of South Korean businessman Dae Sik Han, has filed for its stock market debut this year, the company confirmed to the Inquirer.

The Clark casino resort developer on Saturday said it had submitted a prospectus to the Securities and Exchange Commission (SEC) for its initial public offering (IPO).

“We are exploring fundraising options and will make further disclosures at the appropriate time given that we are now undergoing a regulatory process,“ Hann said in a statement.

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Hann has brought its brand of luxury integrated resorts to the country via Hann Philippines, which has an 11-hectare property in Pampanga.

This includes the first five-star luxury hotel in Central Luzon, Clark Marriott, and the first Swissotel in the country. It was originally the Widus Hotel in 2006.

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Prior to its IPO filing, Hann had been delaying its stock market debut with an initial price tag of P12 billion due to volatile market conditions.

Casino operators have also been having some difficulty recovering postpandemic, with Enrique Razon Jr.-led Bloomberry Resorts Corp. seeing weak demand from its rich patrons.

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