The listed construction giant said its board gave the green light for the company to issue 60 million preferred shares at P100 apiece by way of private placement.
EEI said the preferred shares will be cumulative, non-voting, non-participating, non-convertible and non-reissuable.
The listed company intends to use the net proceeds of the offer to fund its real estate and power initiatives as well as for general and working capital requirements.
This story is from the December 19, 2024 edition of The Philippine Star.
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This story is from the December 19, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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