PHINMA Education sees no immediate need for IPO

PHINMA Education Holdings, Inc. (PEHI) continues to consider an initial public offering (IPO) as a potential funding option but is delaying the move due to soft market conditions and the availability of private investment.

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“The market is really soft, so it may not be a conducive time for us to raise the money. Secondly, we still receive interest from private investors. So that tells us that we can get better valuations from private equity investors. Thirdly, we have yet to fully deploy the funds that we receive from KKR,” PHINMA Corp. Vice-President and Treasurer Nanette P. Villalobos said at a briefing last week.

“We're focusing our efforts on deploying and putting that investment to good use. We are scheduled to receive the balance of the KKR investments, I believe, next year. So we still have funds at this point and don’t see the need to go for an IPO right now,” she added.