Tagum Global Medical Center files for P1-billion IPO

Tagum Global Medical Center Inc. intends to raise capital through a P1-billion initial public offering (IPO), to be used for its construction and development, medical equipment, and pre-operating expenses.

According to its prospectus, Tagum Global plans to offer 36,000 common shares equivalent to 3,600 blocks at an offer price ranging from P200,000 to a maximum offer price of P400,000.

The 3,600 blocks will be offered in tranches through a series of offerings at an offer price in progressive amounts—the first 1,400 blocks at P200,000 each, the next 600 at P250,000 each, another 700 blocks at P300,000 each, and the next 900 blocks at P400,000 each.

"The net proceeds of the offer shall be used primarily by the company the construction and development, medical equipment, and pre-operating expense of Tagum Global Medical Center," the prospectus read.

Tagum Global was established to maintain, operate, own, and manage hospitals, medical and related healthcare facilities and business such as laboratories, diagnostic centers, ambulatory clinics, condo hospitals, scientific research, and other allied undertakings. — BM, GMA News