8990 prepares preferred share offering
Mass housing builder 8990 Holdings Inc. has approved the issuance of redeemable preferred shares.
The shares are non-voting, non-convertible and non-participating, and redeemable.
8990 has yet to determine the offer size and other terms and conditions of the sale including the increase in authorized capital ,
The company has programmed to roll out 14 projects worth P6.8 billion this year.
It is also working on condominium buildings that will rise within an 8.4-hectare estate in Tondo, Manila.
Apart from this, 8990 is constructing more than 20 residential buildings in Pasig City. When completed, the project will bring to the market more than 23,000 new units.