SEC clears 4 public offeringsIn a statement, the SEC said it approved the planned fundraising activities of Ayala Land Inc., Synergy Grid & Development Phils Inc., Megawide Construction Corp. and The Keepers Holdings Inc.MANILA, Philippines — The Securities and Exchange Commission cleared four public offerings on Thursday, allowing these companies to continue raising cash to meet their needs amid the pandemic. The property giant would offer P2.75 billion worth of debt papers to the public for the first tranche of the sale, with an option to sell more bonds of the same amount if there will be strong demand. Proceeds from the offer is pegged at P25.69 billion, which Synergy Grid will use to buy non-voting preferred shares in National Grid Corporation of the Philippines. The grid operator, in turn, will use the money to bankroll its capital expenditures. Lastly, Keepers Holdings will put up 3 billion common shares for sale to the public at P2 to 2.50 each from November 8 to 12.

Source: Philippine Star October 08, 2021 03:59 UTC