Phinma Corp., a diversified investment holding company, said Wednesday its board has approved a stock rights offering that seeks to raise up to P1 billion for its growth strategy
Proceeds from the rights offer are intended to support the expansion plans of its subsidiaries, increase capital for potential new ventures, and address general corporate needs.
Phinma has interest in education, construction material manufacturing, real estate development and hospitality.Phinma said its Executive Committee has been authorized to finalize the terms and conditions of the rights offer, including transaction fees, procedural steps, and other necessary requirements.
The company will submit all relevant documentary requirements to the Securities and Exchange Commission to facilitate the rights offer. Phinma said it will list the additional shares on the Philippine Stock Exchange and file all required documents to ensure compliance with PSE regulations related to the rights offer.
Phinma has 286.3 million outstanding shares that last traded at a price of P21.45.
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