What You Need to Know About the P11-Billion IPO of the Company Behind Hann Casino Resort in Pampanga

Hann Holdings Inc., the operator of Hann Casino Resort in Clark, Pampanga, has secured the go-ahead of the Securities and Exchange Commission for its proposed initial public offering that could net the company as much as P11.43 billion. 

In a news release on Friday (July 18), the SEC said it had approved the registration statement of HHI covering up to 2,500,003,000 common shares. The company will offer 500,001,000 primary firm shares at P23.60 each to the public, with an overallotment option of up to 50,001,000 shares to be offered at the same price by the company’s selling shareholder, Hann Group Holdings W.L.L.

HHI said the net proceeds from the offer will be used for capital expenditures to fund development and expansion plans, and general corporate purposes of its wholly owned subsidiary, Hann Philippines, Inc., which runs the casino resort property.

The offer period will run from September 9 to 15, in time for listing on the Main Board of the Philippine Stock Exchange on September 23, according to the latest timetable submitted to the SEC.

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Should the IPO push through as scheduled, it will be only the second company to list in the Philippine Stock Exchange this year, following Cebu-based fuel retailer Top Line Business Development Corp., which made its PSE debut in April, raising around P732.6 million.

Hann Casino Resort in Pampanga is a sprawling 11-hectare property that includes over 800 rooms across three hotel brands—Clark Marriott, Swissôtel Clark, and Widus Hotel—240 gaming tables, 1,137 slot machines, 72 electronic table games, and a diverse culinary lineup of 18 restaurants. It also recently opened its 8th Avenue Lifestyle Mall, offering premium retail and dining, along with the upscale bar Taboo. 

The expansion plans include a 3,500 sqm canyon-inspired gaming space with an additional 52 gaming tables, 578 slot machines, 329 new parking slots, and three new restaurants. Also in the pipeline are 978 more room keys, 24 stories, and 848 parking slots through Hann Casino Resorts' new hotel partners: InterContinental and Novotel. These new hotels will house 11 dining outlets, a 1000-seater ballroom, meeting rooms, a golf simulator, a sports bar, an infinity pool, a spa, a gym, among others.

In addition, HHI is also planning the 450-hectare Hann Reserve in New Clark City, Tarlac, where the company plans strategic collaborations with global names like Marriott International, Accor Group, and the PGA of America. The new facility will be the site of three signature golf courses crafted by legendary designers Jack Nicklaus, Sir Nick Faldo, and KJ Choi, alongside the country's inaugural PGA-affiliated player development facilities. The property will also include hotels, residences, an international school, wellness amenities, a commercial center, and a public park. 

HHI tapped CLSA Limited as the sole global coordinator for the IPO. It will also act as joint bookrunner, together with domestic underwriters Asia United Bank Corporation, BDO Capital & Investment Corporation, China Bank Capital Corporation, and PNB Capital and Investment Corporation.