The company has filed a registration statement (IPO) with the Securities and Exchange Commission to offer up to one billion primary common shares, with an over-allotment option of up to 100 million secondary shares. The indicative price has been set at up to PHP 0.67 per share, subject to book-building and regulatory approval.

Proceeds from the primary offer will fund capital expenditure, including fleet expansion and shipyard facility development, as well as general corporate purposes.

Aznar Shipping operates nine vessels on four major inter-island routes, regularly calling at eight locations in Philippines Visayas region. It plans to increase vessel capacity, establish additional routes and upgrade its facilities as it expands its regional operations.

President and CEO of Aznar Shipping Corp. Kyle Alexander Aznar, said the IPO would allow investors to participate in the growth of the Visayas through an expanding inter-island shipping network supporting trade, tourism and mobility. The additional capital would strengthen the company’s fleet and capacity to transport more passengers, vehicles and cargo.

A study cited by the company found that Visayas ports accounted for about 35% of national cargo throughput, 60% of passenger traffic and 49% of RoRo vehicle movements between 2022 and 2025. Regional RoRo traffic is projected to grow by an annual average of 12.9% through 2028, exceeding the national forecast of 10.7%.

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