Filinvest Development Corp., the investment holding company of the Gotianun Group, has secured approval from the Securities and Exchange Commission (SEC) for its follow-on offering of preferred shares.
With the SEC’s go-ahead, Filinvest Development may now offer up to 8 million cumulative, non-voting, non-participating, non-convertible, redeemable, and re-issuable peso-denominated perpetual preferred shares. The total includes 2 million shares allocated for oversubscription.
The preferred shares will be offered at P1,000 each, potentially raising up to P8 billion for the company.
The offering consists of two series: Series A, which carries an initial dividend rate of 6.6253 percent, and Series B, offering a higher rate of 7.1087 percent.
The shares will be listed and traded on the Main Board of The Philippine Stock Exchange, enhancing Filinvest Development’s capital market presence and providing investors with new fixed-income investment options.
Proceeds from the offering are expected to support the company’s corporate initiatives and long-term growth strategy.
