The Securities and Exchange Commission has given three more members of the Allied Care Experts (ACE) Medical Group the green light to raise as much as P1 billion each in separate initial public offerings.
The SEC said it approved the planned share sale of Allied Care Experts (ACE) Medical Center Gensan Inc. involving 228,000 shares.
It cleared the public offering of Allied Care Experts (ACE) Dumaguete Doctors Inc. involving 186,000 shares and Allied Care Experts (ACE) Medical Center Bohol Inc. covering 180,000 shares.
Documents filed with the SEC showed that ACE Medical Center-Gensan would offer 36,000 common shares in blocks of 10 shares. It will sell the first 600 blocks at P200,000; the next 1,600 blocks at P250,000; the following 800 blocks at P300,000 and the remaining 600 blocks at P400,000.
The company will use the net proceeds from the offering to fund the construction of a a six-story, 200-bed hospital in Barangay Lagao, General Santos City beginning in August. The hospital is envisioned as a Level 2, multidisciplinary specialty medical facility.
ACE Dumaguete Doctors will offer 36,000 common shares in blocks of 10 shares. It will sell the first 2,400 blocks at P250,000; the next 800 blocks at P300,000 and the remaining 400 blocks at P400,000.
ACE Dumaguete Doctors is currently building an eight-story, 100-bed hospital in Cimafranca Subdivision, Daro, Dumaguete City. The hospital as of May 31 is 94.1 percent constructed. It is scheduled for inauguration before the end of the year.
ACE Medical Center-Bohol, meanwhile, will offer 30,000 common shares to the public in three equal tranches priced at P250,000, P350,000 and P400,000 for every block of 10 shares.
ACE Medical Center-Bohol is constructing an eight-story, 176-bed hospital along 0368 CP Garcia East Avenue, Barangay Mansasa, Tagbiliran City. The hospital as of May 31 is 91.3 percent complete.
Subscribing to the offered shares is a prerequisite for physicians and medical specialists to practice at ACE Medical Center-Gensan, ACE Dumaguete Doctors and ACE Medical Center-Bohol
The SEC earlier approved the maiden offering of ACE Medical Center-Iloilo, ACE Malolos Doctors and ACE Medical Center- Butuan.