A Brown Company Inc. (ABCI) seeks to offer preferred shares to fund the company's expansion projects. In a statement on Wednesday, the company said it filed a registration statement with the Securities and Exchange Commission for the planned sales of 10 million preferred shares priced at P100 per share, with an oversubscription option of up to 5 million shares under its 50-million shelf registration program. PNB Capital and Investment Corp. was tapped to be the sole issue manager, lead underwriter and sole bookrunner for the transaction. "The company has historically targeted the full spectrum of the real-estate industry, enabling it to promptly take advantage of shifts in the demand of its customers. Shares of ABCI shed 1 centavo or 1.11 percent to finish at 89 centavos apiece on Wednesday.

Source: Manila Times July 21, 2021 17:03 UTC