Megawide Corp. is pursuing its P4 billion preferred share sale announced in July.
The company earlier said it looks to sell 40 million preferred shares at an offer price of P100 apiece. It will be a “series 4” preferred shares that are “perpetual, cumulative, non-voting, non-participating, non-convertible, and redeemable” that will be listed with the Philippine Stock Exchange (PSE).
The company said a resolution has been passed by its Board of Directors Tuesday.
Megawide in August said it has signed a contract with PHirst Park Homes for a supply and build agreement in the latter’s Magalang, Pampanga project.
This follows after Megawide recently got a contract from PHirst Park as well for its Batulao, Batangas site.
“The new contract covers the supply and build agreement for 1,079 housing units using precast materials, marking the two companies’ seventh venture together,” Megawide said.
