Bilyonaryo.com
Posted at March 23, 2022 10:11 pm

SEC clears Bacolod hospital’s P1B IPO

Asia Pacific Medical Center Bacolod Inc. has received approval from the Securities and Exchange Commission to launch its initial public offering, estimated to raise nearly P1 billion.

APMC Bacolod will offer to the public 3,600 blocks composed of 10 shares each, at a price ranging from P250,000 to P400,000 per block. The shares will be traded over the counter.

Net proceeds from the offer, amounting to P997.52 million, will be used to finance the construction of a P2.6 billion health care facility in Bacolod as well as for working capital and loan payment.

Located at Lacson St. Bacolod City in Negros Occidental, the seven-story, 248-bed hospital has a total floor area of 38,084.03 square meters.

The intended market for the IPO will be medical practitioners and their relatives, as well as the public.

APMC Bacolod physicians and medical specialists are required to susbscribe to the IPO. Physicians looking to hold clinic at the hospital must have paid in full at least one block or 10 shares and must have undergone the required screening process and minimum requirements prescribed by the hospital.

Source: https://www.bilyonaryo.com/2022/03/23/sec-clears-bacolod-hospitals-p1b-ipo/