<\/p>\n
ARTHALAND Corp. has secured one other regulatory approval for its planned preferred share offering of as much as P3 billion, with proceeds earmarked to refinance maturing obligations and support ongoing project development.<\/span><\/p>\n In a disclosure on Wednesday, the corporate said it received a Certificate of Filing of Enabling Resolution from the Securities and Exchange Commission (SEC), dated July 13, for its planned issuance of Series G and Series H preferred shares.<\/p>\n The certificate covers the issuance of as much as 6 million preferred shares with a par value of P1 each, consisting of a base offer of as much as 4 million shares and an oversubscription option of as much as 2 million additional shares.<\/p>\n The popular shares can be offered at P500 each and issued from the corporate\u2019s unissued capital stock as Series G and Series H preferred shares.<\/p>\n \u201cUpon listing, the Preferred Shares can be traded under the symbols \u2018ALCPG\u2019 for the Series G Preferred Shares and \u2018ALCPH\u2019 for the Series H Preferred Shares,\u201d the corporate said.<\/span><\/p>\n The planned offering is predicted to boost as much as P3 billion if the oversubscription option is fully exercised.<\/span><\/p>\n In keeping with the corporate\u2019s preliminary prospectus, proceeds from the bottom offer can be used to partially fund the redemption of its Series D preferred shares in December 2026.<\/p>\n If the oversubscription option is fully exercised, about P300 million of the extra proceeds can be used as an equity infusion into Cazneau to assist finance the completion of Una Apartments Tower 2, while P200 million can be allocated for general corporate purposes.<\/span><\/p>\n The remaining additional proceeds will complement funding for the redemption of the Series D preferred shares, the corporate said.<\/p>\n BDO Capital & Investment Corp. is the only real issue manager, lead underwriter, and lead bookrunner for the planned offering.<\/p>\n Shares in Arthaland fell 4.35% or two centavos to P0.44 apiece on Wednesday. \u2014 Alexandria Grace C. Magno<\/b><\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" ARTHALAND CENTURY PACIFIC TOWER \u2014 ARTHALAND.COM ARTHALAND Corp. has secured one other regulatory approval for its planned preferred share offering of as much as P3 billion, with proceeds earmarked to refinance maturing obligations and support ongoing project development. In a disclosure on Wednesday, the corporate said it received a Certificate of Filing of Enabling Resolution […]<\/p>\n","protected":false},"author":1,"featured_media":370784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[1127,20571,1430,3904,19170,9874,656],"class_list":["post-370783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ahead","tag-arthaland","tag-moves","tag-offer","tag-p3b","tag-planned","tag-share"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t