The Philippine Securities and Exchange Commission has rendered effective Megawide Construction Corporation’s registration statement for a follow-on public offering of up to 20 million preferred shares, with an oversubscription option of up to 10 million shares, subject to compliance with remaining requirements. The cumulative, non-voting, non-participating, non-convertible, redeemable, and perpetual preferred shares will be offered at up to PHP 100 per share. Net proceeds are expected to reach up to PHP 2.97 billion assuming full exercise of the overallotment option, with funds earmarked for debt refinancing, partial financing of pipeline projects, and general corporate purposes. PNB Capital and Investment Corporation, RCBC Capital Corporation, and Security Bank Capital Investment Corporation will act as joint issue managers, joint lead underwriters, and joint bookrunners. Under the latest timetable submitted to the SEC, the offer period runs from 30 October to 10 November, with listing on the Main Board of the Philippine Stock Exchange scheduled for 19 November.
Philippine Securities and Exchange Commission 2025-10-10
Philippine Securities and Exchange Commission clears Megawide Construction Corporation follow-on offer of up to 30 million preferred shares
The Philippine SEC approved Megawide Construction's follow-on offering of up to 20 million preferred shares, with a 10 million oversubscription option, priced at up to PHP 100 each, aiming to raise PHP 2.97 billion for debt refinancing, project financing, and corporate purposes. PNB Capital, RCBC Capital, and Security Bank Capital will manage the offering, with listing on the Philippine Stock Exchange set for 19 November.