Megawide Construction Corp. charged into year-end with fresh momentum as it successfully listed P3.0 billion worth of Series 7 Preferred Shares on November 19, an offer that ended 2.3 times oversubscribed.
Chairman and Chief Executive Officer Edgar Saavedra framed the strong investor appetite as a resounding endorsement of the company’s direction. “The listing of our oversubscribed Series 7 Preferred Shares is a powerful vote of confidence and empowers us to pursue high-impact projects—projects that are real, deliverable, high quality, and capable of uplifting communities and our Philippine economy,” he said at the ceremony.
Megawide will use the primary proceeds to refinance its maturing Series 2B Preferred Shares, while the oversubscription provides additional capital for corporate requirements and expansion, particularly its renewed push into the government’s Pambansang Pabahay Para sa Pilipino (4PH) housing program.
The company believes its precast technology and end-to-end engineering expertise position it well to help address the country’s socialized housing backlog with durable, affordable, and rapidly built units.
The public offer ran from October 30 to November 10, raising P1.16 billion in Series 7A and P1.84 billion in Series 7B, with final dividend rates of 7.3131 percent and 7.7007 percent, respectively. RCBC Capital, SB Capital, and PNB Capital served as Joint Issue Managers, Joint Lead Underwriters, and Joint Bookrunners.
Saavedra said Megawide is “entering an exciting new chapter,” noting an order book nearing P50 billion and a stronger balance sheet after recent deleveraging that brought consolidated debt-to-equity down to 1.86x and 1.42x at the parent level.
Megawide earlier reported that its nine-month 2025 net income had already reached 92 percent of FY2024, supported by efforts to retire around P10 billion in short-term debt—moves designed to sharpen liquidity, strengthen leverage, and seed long-term growth.
