SEC clears public offerings by Filinvest Land, Megawide and Cityland

ABS-CBN News

Posted at Oct 28 2020 12:00 PM

MANILA - The Securities and Exchange Commission on Wednesday said it cleared the public offerings by Filinvest Land Inc, Megawide Construction Corp and Cityland Development Corp.

The Commission en banc "resolved to render effective" the registration statements of Filinvest covering up to P30 billion of fixed-rate bonds, Megawide for up to P5 billion of perpetual preferred shares and Cityland for up to P1.4 billion of commercial papers subject to compliance with certain requirements, the SEC said in a statement.

The SEC said Filinvest would offer up to P6.75 billion for the first tranche with an oversubscription option of up to P2.25 billion. The bonds, which will be offered at face value, will be listed and traded on the Philippine Dealing and Exchange Corp, it said.

Megawide, meanwhile, will offer 30 million non-voting perpetual Series 2 preferred shares, with an oversubscription option of up to 20 million, priced at P100 each, the SEC said. The preferred shares will be listed and traded on the Philippine Stock Exchange, it said.

Cityland was also approved to offer commercial papers where it expected to net around P1.39 billion, the agency said.