The Philippine Securities and Exchange Commission has considered favorably Megawide Construction Corporation’s public offering of Series 6 preferred shares, resolving to render effective the company’s registration statement for 30 million shares with an oversubscription option of up to an additional 30 million, subject to compliance with remaining requirements. The preferred shares are perpetual, cumulative, non-voting, non-participating, non-convertible and redeemable, and will be offered at PHP 100 per share, with proceeds expected to reach up to PHP 5.95 billion if the oversubscription option is fully exercised. Megawide indicated the proceeds will be used for partial financing of pipeline projects, redemption of shares and general corporate purposes. The offer is scheduled to run from 10 to 19 March, with listing on the Philippine Stock Exchange Main Board targeted for 28 March, and PNB Capital and Investment Corporation, RCBC Capital Corporation and Security Bank Capital Investment Corporation appointed as joint issue managers, joint lead underwriters and joint bookrunners.
Philippine Securities and Exchange Commission 2025-02-26
Philippine Securities and Exchange Commission renders effective Megawide’s registration for up to PHP 5.95 billion preferred shares offering
The Philippine Securities and Exchange Commission approved Megawide Construction Corporation's public offering of Series 6 preferred shares, allowing for 30 million shares with an oversubscription option of up to an additional 30 million. Priced at PHP 100 each, the shares could raise up to PHP 5.95 billion if fully subscribed. Proceeds will fund pipeline projects, share redemption, and general corporate purposes, with the offering scheduled from 10 to 19 March and listing on the Philippine Stock Exchange Main Board on 28 March.