P8-B share sale backs Filinvest’s growth

The Gotianun family-led Filinvest Development Corp. (FDC) raised P8.0 billion from its maiden preferred shares offering, with proceeds set to refinance existing obligations and support the company’s long-term growth plans.

“Our successful maiden preferred shares issuance marks a historic milestone in our corporate history and demonstrates investor confidence in FDC’s vision and our commitment to sustainable growth,” FDC president and CEO Rhoda A. Huang said on Friday.

Exceptional support

“We are very thankful for the exceptional support that we received from our investors, and we are excited to continue building on our momentum and delivering long-term value to our stakeholders,” she added

The preferred shares — traded under the symbols “FDCPA” and “FDCPB” — were listed on the Philippine Stock Exchange on Thursday.

The offering, which ran from 21 to 31 July, was 1.66 times oversubscribed on the base offer of P6.0 billion, enabling the full exercise of the P2.0-billion oversubscription option.