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Graveyard Company First to Test Market in Duterte’s Philippines

  • Golden Haven Memorial Park’s IPO runs through June 22
  • Cemetery firm controlled by political ally of president-elect
GOLDEN HAVEN, LAS PINAS, NCR, PHILIPPINES - 2015/10/18: Men cleaning up the tombs and grave of their departed loved ones in time of All Saint's Day and All Soul's Day where thousand of Filipinos will visit the different cemetery around the Philippines.
Photographer: Pacific Press/LightRocket via Getty Images
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The first Philippine company to test the share market since the presidential victory of Rodrigo Duterte runs cemeteries.

Golden Haven Memorial Park Inc., which says on its website that it aspires to be the leader in professional death care, started marketing 778 million pesos ($17 million) of shares on Thursday in an offer that runs through June 22. It’s controlled by Manuel Villar, a former senator who is a political ally of Duterte. Mark Villar, Manuel’s son, is the incoming public works and highways secretary.