GT Capital Holdings Inc. said Tuesday it secured board approval to redeem its series A perpetual preferred shares on 27 October at the shares’ issue price of P1,000, which means the company will have to shell out P4.80 billion for the redemption exercise.
The listed investment holding company of Ty Group issued 4.8 million series A perpetual preferred shares in October 2016 to bridge finance existing loans. The preferred shares carry an annual dividend rate of 4.6299 percent.
Redemption of the shares is an option of GT Capital but not an obligation.
Once redeemed, the series A perpetual preferred shares will be considered retired.
The notice of redemption will be sent out by GT Capital’s stock and transfer agent, Metropolitan Bank and Trust Company – Trust Banking Group.
GT Capital to redeem P4.8B perpetual preferred shares
Previous article![]( "Estimated 3Q palay output likely lower at 3.788M metric tons")
Next article![]( "AirAsia fleet seen more than 300 next year")
Related Stories
