Mass housing developer 8990 Holdings has raised P3.7 billion in fresh funds from a follow-on public offering of preferred shares which were listed on the Philippine Stock Exchange.
Proceeds from this exercise will be used to retire older debt and fund construction activities of housing projects.
In his speech during the listing of 8990 Holdings’ preferred shares on Wednesday, Philippine Stock Exchange president Ramon Monzon cited the company’s growth story and expansion plans.
“I am optimistic that with 8990’s strategy of growing its reach, diversifying its product offerings and exploring innovative financing products, the company will be able to help more Filipinos have homes t…
Keep on reading: 8990’s follow-on offering yields P3.7B in fresh funds