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Home News Real Estate Filinvest Devt to offer 3.5 billion shares for fresh capital
Filinvest Devt to offer 3.5 billion shares for fresh capital
Tuesday, 07 August 2007 02:57
Holding company Filinvest Development Corp., on Monday announced that it has received board approval for an equity fund raising of up to 3.5 billion common shares.

In a statement to the Philippine Stock Exchange, Filinvest Development said the fund raising will be done through a combination of primary and secondary offerings, with an option to offer and
issue convertible bonds to the public.

"The corporation is currently evaluating its options regarding any potential fundraising activity, including the timing of such fundraising and the feasibility of the bond flotation," the company said.
 The move will be ratified in a special stockholders' meeting on September 7, 2007. No other details were disclosed.

The company announced last month that it has acquired a sugar business, Pacific Sugar Holdings Corp, in a swap involving 1.55 million Filinvest Development shares. It was its first major move to branch out of the real estate development. - Cheryl Arcibal, GMANews.TV
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