The Philippine Stock Exchange, Inc. (PSE) approved the listing application of Golden Haven Memorial Park, Inc., a developer of memorial parks and columbarium facilities. The company, which will use the stock symbol “HVN’, will be offering 74.12 million shares at Php10.50 per share beginning June 16.
“We are pleased to see movement in our IPO pipeline. We are optimistic that this will provide the impetus for other companies, particularly those which have deferred their IPOs, to look at the stock market for their funding requirements,” said PSE President and CEO Hans B. Sicat.
As with other IPOs, this offering will have a Local Small Investor (LSI) component. The LSI program provides an allocation of ten percent of the shares offered in the IPO for retail investors. Under the LSI program, an investor’s subscription will not exceed Php25,000.00. Interested LSI subscribers must personally submit their subscription application and other requirements to the Issuer’s receiving agent which will be stationed at the PSE Ayala and Tektite Offices and in other designated centers.
Details on the offer may be accessed through the PSE EDGE website.