The Securities and Exchange Commission (SEC) has approved Filinvest Development Corp. ‘s planned ₱8 billion preferred share offering, a move that underscores the firm’s continued drive to strengthen its capital structure and fund key operations.
The offering involves 8 million non-voting, cumulative, and redeemable preferred shares priced at ₱1,000 each. This includes a base offer of 6 million shares with an oversubscription option of up to 2 million. The company expects to raise as much as ₱7.93 billion in net proceeds, which will be allocated for refinancing, capital expenditures, and general corporate purposes.
The offer period is set from 21 to 25 July, with listing on the Philippine Stock Exchange’s main board on 4 August, according to Filinvest’s timetable submitted to the SEC.
BPI Capital Corp. will act as sole issue manager, while it joins BDO Capital & Investment Corp., China Bank Capital Corp., Land Bank of the Philippines, and Security Bank Capital Investment Corp. as joint lead underwriters and bookrunners.
