Italpinas to raise up to P650M from preferred share issuance

ITALPINAS Development Corp. (IDC) looks to raise up to P650 million from the issuance of preferred shares. In a disclosure to the stock exchange on Friday, the listed property developer said it has filed a registration statement with the Securities and Exchange Commission (SEC) for the issuance of 33,333,334 preferred shares to the public at up to P15 each. The company has also set aside 10 million preferred shares for an over-allotment option.

Continue Reading