Megawide Construction Corp. has listed on the Philippine Stock Exchange its Series 6 Preferred Shares that raised P5.3 billion, an amount that is 1.7 times more than the base P3.0 billion offering, underscoring strong investor interest in the listed construction firm.
The offering, which ran from 26 March to 4 April, drew strong investor demand across all tranches—P1.78 billion in Series 6A, P1.19 billion in Series 6B, and P2.30 billion in Series 6C.
PNB Capital and Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. served as joint issue managers, joint lead underwriters, and joint bookrunners.
“We are deeply grateful to all our partners and investors for their trust and confidence,” said Edgar Saavedra, Megawide chairman and chief executive officer. He said that the proceeds would support the company’s strategic expansion, including its push into real estate, particularly in affordable and socialized housing outside Metro Manila—segments with high unmet demand amid the national housing crisis.
Investor preference for Series 6C, the longest-tenured tranche, signals confidence in Megawide’s long-term financial health and strategic direction. “The offer’s outcome reflects strong market belief in Megawide’s vision and fundamentals,” added Gerry Valenciano, president of PNB Capital.
As of end-2024, Megawide’s order book stood at P43.5 billion, bolstered by P17.2 billion in new contracts. The company aims to balance its portfolio across organic projects, private sector developments, and public infrastructure, in alignment with the government’s infrastructure-led growth agenda.
