Clark-based casino operator Hann Holdings Inc. has delayed its planned P13 billion initial public offering (IPO) due to weak market conditions and tighter regulation on online gaming, the company’s chief executive told Bloomberg.
The company had planned to offer 500 million common shares at a maximum price of P23.60 each, along with an additional 50 million secondary shares to cover an over-allotment option.
The IPO proceeds were intended to support the company’s expansion into the high-end integrated resort and leisure market in Central Luzon.
Hann Holdings’ flagship property is Hann Casino Resort in Clark Freeport Zone, Pampanga, which features a gaming floor, international hotel brands like Swissôtel and Clark Marriott, high-end retail and fine-dining establishments.
The company is also developing Hann Reserve, a 450-hectare luxury mountain resort in New Clark City, Tarlac.
The project is envisioned as the country’s first luxury eco-leisure estate, with plans for high-end hotel brands, golf courses, and residential villas. Global hospitality names such as Banyan Tree, Sofitel and The Luxury Collection by Marriott are expected to be part of the project.
The IPO had already been approved by the Securities and Exchange Commission and the Philippine Stock Exchange.
The local bourse has been trading sideways in recent weeks amid concerns about global tariffs and a high-interest rate environment.
Maynilad Water Services also earlier deferred its planned IPO due to volatile markets.
Only one company, Top Line Business Development Corp., has been listed on the local bourse so far this year.
