Megawide Construction Corp. said Monday the Securities and Exchange Commission has approved its primary offering of and certificate to sell 15 million perpetual series 5 preferred shares.
The non-voting, non-convertible, redeemable preferred shares will be priced at P100, which means Megawide could raise P1.5 billion from the share sale.
The perpetual preferred shares will be listed and traded on the Philippine Stock Exchange, Inc.
Other details of the shares offer and where the proceeds will be used weren’t immediately made available.
Megawide is a general construction company and has partnered with the government through its participation in the Public Private Partnership program. Among its many infrastructure projects are major airports.
