Phinma unit to set up 2-3 Asean colleges before IPO

PhinmA Education Network (PEN), the education unit of listed parent Phinma Corp., is planning to put up two to three colleges within the Association of Southeast Asian Nations (Asean) region before its planned debut or initial public offering (IPO) on the Philippine Stock Exchange (PSE) either in 2017 or 2019.

“We might not have as big a network as I want, but our goal is before the IPO to have at least two or three schools open internationally,” Chito Salazar, PEN president, told reporters on the sidelines of a higher education forum on Tuesday.