PH RESORTS CONCLUDES FOLLOW-ON OFFERING
PHResorts Group Holdings, Inc. (PHR) concluded its follow-on offering with a listing ceremony at the Philippine Stock Exchange (PSE). The gaming and hospitality company raised Php756 million from the offering. PHR’s flagship project is the Emerald Bay, an integrated resort and casino development in Mactan, Cebu.
In his welcome remarks during the event, PSE President and CEO Ramon S. Monzon said, “I am pleased that the PSE was able to support the company in its capital raising requirement. Bulk of the funds will be utilized by the company for the construction of Emerald Bay, which is a much-awaited integrated resort and casino development expected to have its soft opening by end of next year.”
He also said, “This massive project has generated and will continue to generate much-needed jobs for Filipinos and will help boost tourism in Cebu and stimulate the province’s economy after this pandemic.”
The bell ringing event was attended by Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Andrea D. Domingo and President and COO Alfredo C. Lim. PSE Directors participated in the event virtually.