Hann Resorts has reportedly postponed its IPO to mid-2025, having been previously scheduled for either this year or early next year.
According to a report from Philstar, citing sources, the delay is attributed to the US Federal Reserve’s shift in policy. Sources indicated that “this is a significant IPO” and “[HANN] requires the Fed to cut rates to attract international investors to Asia.” They also mentioned that Hann Resorts plans to use this period to strengthen its valuation through robust earnings performance.
Hann Resorts, owned by South Korean businessman Dae Sik Han, operates a casino resort in the Clark Freeport Zone.
The IPO is intended to secure new funding for expanding its gaming operations and developing its multi-billion dollar Hann Reserve.
The company currently operates around 147 gaming tables, 868 slot machines, two VIP clubs, and two five-star hotels at its Hann Casino Resort.
The company’s parent firm, Hann Philippines, is also developing the $2 billion Hann Reserve (with potential expenditure reaching $4 billion), a 450-hectare luxury estate in Tarlac.
