Green building developer Italpinas Development Corp. plans to issue preferred shares that can raise up to P1 billion in proceeds to finance landbanking activities and pay debt.
Italpinas chairman and chief executive Romolo Nati said in a news briefing the company aimed to issue the preferred shares between June and August this year.
Provincial green developer Italpinas Development Corporation (IDC) is planning to issue preferred shares to raise “below P1 billion” to fund its land acquisition activities and working capital requirements.
In its disclosure to the Philippine Stock Exchange, the firm said its Board of Directors has approved the reclassification of up to 100 million unissued common shares to preferred shares.
GREEN developer Italpinas Development Corporation (IDC) launched the second tower of its Primavera City mixed-use project in Cagayan de Oro City on March 8, after sales of units in the first tower “exceeded expectations,” the company’s chairman said.
IDC Chairman and CEO Romolo V. Nati said that IDC opened Tower B of the eventual seven-tower project for sale after 80 percent of the residential units in Tower A were sold.
Listed Italian-Filipino developer Italpinas Development Corporation (IDC) Chairman and CEO Architect Romolo Valentino Nati was among the speakers during the recently conducted business forum by the Italian Chamber of Commerce, last March 2, 2017, held in Makati, Philippines.