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Jun 30, 2016 @ 7:58

Golden Haven’s stock surges by 50% after IPO


Share price of Golden Haven Memorial Parks Inc., the first company to go public this year, surged 49.9 percent after its initial public offering and listing Wednesday.

Golden Haven, the first death care company to be listed with the Philippine Stock Exchange and controlled by billionaire Manuel Villar, saw its stock soar from an IPO price of P10.50 to P15.74 at the close of trading.

Golden Haven chief operating officer Maribeth Tolentino said the company would use the proceeds from the IPO to continue its strategic expansion throughout the country by acquiring land in key locations where sister company Vista Land Inc. has projects.

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