The Securities and Exchange Commission has approved the P1 billion initial public offering of Allied Care Experts (ACE) Medical Center-Legazpi Inc.
ACE Legazpi will offer 36,000 common shares in five tranches at a price ranging from P200,000 to P362,500 for every block of 10 shares, in cash or installment.
Net proceeds from the offering amounting to P996.59 million will be used to construct two, four-story buildings in Bgy. Bogtong, Legazpi City as well as complete Building A by December 2020.
ACE Legazpi will be a 172-bed, Level II, PilHealth-accredited hospital catering to patients from neighboring communities needing further treatment and management.