PHINMA secures P1-B stock rights offering for community investments

PHINMA Corporation has obtained regulatory approvals for a stock rights offering (SRO) of up to P1 billion aimed at supporting investments in local communities.

The Securities and Exchange Commission (SEC) confirmed the P1-billion transaction’s exemption from registration requirements under the Securities Regulation Code on 16 October, and the Philippine Stock Exchange approved the listing of rights shares under the SRO on 21 October, along with its indicative schedule.

The offer period will run from 13 to 19 November, with a tentative listing date set for 27 November.

“PHINMA is committed to investing in businesses that deliver both strong returns for our shareholders and tangible benefits to society,” PHINMA Chief Financial Officer EJ A. Qua Hiansen said on Friday. “This stock rights offering will fuel our growth, strengthen our balance sheet, and empower us to make an even greater impact on Filipino families and communities.”

Proceeds from the SRO will support initiatives from PHINMA’s Construction Materials Group, including PHINMA Solar’s Green Energy Auction Program projects and Philcement’s advanced cement manufacturing facility in Davao del Norte. The funds will also help PHINMA Properties’ developments in Bacolod, Cebu, Iloilo, and Davao, as well as PHINMA Hospitality’s TRYP by Wyndham hotel in Bacolod’s Saludad township.

The offering will further support Union Insulated Panel Corp.’s new facility in Porac, Pampanga, along with ventures in socialized housing, food security, healthcare, and the green industry. Any remaining funds will go toward general corporate purposes.

The offer price will be set on 31 October, with AB Capital & Investment Corporation serving as the issue manager, bookrunner, and lead underwriter.