Phinma Corp. has announced plans to conduct a stock rights offering (SRO) of up to P1 billion by mid-November, following the receipt of necessary regulatory approvals. The Securities and Exchange Commission confirmed that the transaction is exempt from registration requirements under the Securities Regulation Code.
The funds raised will primarily support the expansion plans of Phinma subsidiaries, bolster capital for new ventures, and address general corporate needs. The Philippine Stock Exchange has approved the listing of the rights shares, set for 21 October.
The SRO will take place from 13 to 19 November, with a tentative listing date on 27 November. Phinma will offer one new share for every 5.56 to 6.17 existing common shares, priced between P19.42 and P21.55 each, with final pricing expected by month-end.
CFO Edmund Alan A. Qua Hiansen emphasized the company’s commitment to investing in initiatives that provide strong returns while benefiting society. Proceeds will support projects within the Phinma Construction Materials Group, including Phinma Solar’s Green Energy Auction Program and Philcement’s modern cement plant in Davao del Norte.
Additionally, funding will enhance Phinma Properties’ developments in emerging cities such as Bacolod, Cebu, Iloilo, and Davao, as well as the new TRYP by Wyndham hotel in Bacolod. The offering also aims to support Union Insulated Panel Corp.’s new facility in Pampanga and various initiatives focused on socialized housing, food security, healthcare, and sustainability.
AB Capital and Investment Corporation will serve as the issue manager, book runner, and lead underwriter.
