Megawide to launch P6-billion preferred shares in Manila

Megawide Construction Corp. is set to launch a P6-billion preferred shares offer beginning March 26. The company has received the green light from the Securities and Exchange Commission to move forward with the sale of its series 6 preferred shares. Jez dela Cruz, the chief financial officer of Megawide, expressed optimism about the offering. He said that the early interest from investors shows confidence in the company's future. The funds raised will be used primarily to refinance existing preferred shares and support growth projects in real estate. The offering includes three types of shares: series 6A with a dividend rate of 7.6283 percent, series 6B at 7.9606 percent, and series 6C at 8.2993 percent. Several banks, including PNB Capital, RCBC Capital, and Security Bank, will manage the issuance and underwriting of these shares.