The Market Monitor Minding the Nation's Business
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 P10.50 per share.
“We are pleased to see movement in our IPO [initial public offering] 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 P25, 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’s Ayala and Ortigas offices and in other designated centers.