By Jenniffer
B. Austria | Posted on Jul. 22, 2013 at 12:01am | manilastandardtoday.com
Discovery
World Corp., the operator of high-end resort Discovery Shores Boracay, plans to
absorb other hotels and resort developments owned by the group, after the
P1-billion initial public offering slated in August or September.
Discovery
World president John Tiu said Discovery Suites Hotel in Ortigas, a seven-room
bed and breakfast hotel in Tagaytay, and another high-end hotel in Makati might
be included in the company.
“There is
possibility to include other hotels and resort development into the company to
make it a truly resort development company,” Tiu said. Such plan would come after the IPO.
Tiu said the
IPO might happen by mid-August or September, depending on market conditions.
“Definitely
it would be this year,” he said.
Tiu said
there would be no changes in the terms of the offering. Discovery World, in the final prospectus
approved by the Securities and Exchange Commission, said it would offer 306
million common shares at maximum offer price of P3.28 apiece.
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