Gotianun-led Filinvest Development Corp. is set to raise as much as P8 billion through a preferred share offering, following the Securities and Exchange Commission’s approval of its registration statement.

The regulator said Thursday that the Commission En Banc approved Filinvest’s offering of up to eight million preferred shares last Tuesday, subject to final compliance with remaining requirements. 

The offering comprises six million preferred shares, with an oversubscription option of up to two million, priced at P1,000 each.

If the oversubscription is fully exercised, the company expects to net up to P7.93 billion from the offer. Proceeds will be used for refinancing, capital expenditures, and general corporate purposes.

The offer period is scheduled from 21 to 25 July, with listing on the Philippine Stock Exchange targeted for 4 August.

BPI Capital Corp. will serve as the sole issue manager. It will also act as joint lead underwriter and joint bookrunner along with BDO Capital & Investment Corp., China Bank Capital Corp., Land Bank of the Philippines, and Security Bank Capital Investment Corp.