The Po family’s property concern, Arthaland Corp. is all set to raise P1 billion from the issuance of preferred shares.
The offering involves 10 million non-voting preferred shares priced at P100 each. The shares comprise the second and last tranche of Arthaland’s P3 billion shelf registration facility filed with the Securities and Exchange Commission in 2016.
Net proceeds will be used to partially finance the acquisition and development of the company’s real estate projects and for general corporate purposes.
Arthaland is building the 38-storey Cebu Exchange, which is envisioned to be the tallest building at the Cebu IT Park.
Offer period will run from June 17 to 21.
BDO Capital & Investment Corp. is the sole issue manager, book runner and underwriter.