ABS-CBN News
Posted at Mar 23 2022 10:32 AM

ABS-CBN News on APMC Bacolod’s IPO

The SEC said APMC Bacolod’s net proceeds from the offer could reach P997.52 million which will be allocated for the building and construction, loan payment, working capital and expenses related to its P2.6-billion medical facility.

The 6 tertiary hospitals currently operating in the city has a combined capacity of about 1,200 beds only. Although one may argue that this meets the needs of over half a million Bacolodnons, it is vastly inadequate to serve the 2 1/2 million Negrenses living in the occidental side alone.

APMC is currently constructing a 248-bed hospital located at Lacson St., Brgy. Bata, Bacolod City in Negros Occidental, the SEC said.

Philippine Stock Exchange president Ramon Monzon earlier said 2022 is expected to be a good year for capital raising following a “fantastic” 2021 despite the ongoing COVID-19 pandemic.

Source: http://news.abs-cbn.com/business/03/23/22/sec-oks-converges-p20-b-bonds-offer-apmc-bacolod-ipo