THE Securities and Exchange Commission (SEC) has approved Allied Care Experts (Ace) Medical Center Iloilo, Inc.’s plan to raise as much as P1.44 billion from an initial public offering (IPO).

In an amended registration statement sent by the SEC to the media on Friday, the Iloilo province-based hospital operator said it wanted to offer as much as 36,000 shares priced between P25,000 and P40,000 apiece.