Megawide planning aggressive expansion of PH1 World Developers subsidiary, possible IPO
Megawide [MWIDE 3.25, up 0.9%; 105% avgVol] [link] owner Edgar Saavedra said that he intends to make its recently-acquired real estate developer, PH1 World Developers (PH1), into MWIDE’s “top income contributor” within three years. Mr. Saavedra plans to do this through expanding the PH1 project pipeline, and said that he could look to raise money through an IPO at some point in the future, but that he had no immediate plans to do that yet.