LISTED builder EEI Corp.'s board has approved the private placement of preferred shares to raise about P6 billion in fresh capital to fund the firm's real estate and power initiatives and for general and working capital requirements.
LISTED builder EEI Corp.'s board has approved the private placement of preferred shares to raise about P6 billion in fresh capital to fund the firm's real estate and power initiatives and for general and working capital requirements. EEI told the stock exchange that its board, in a meeting on Tuesday, approved the issuance of 60 million preferred shares, to be denominated as Preferred Shares Series 'D', with a par value of P0.
'The issuance qualifies as an exempt transaction from the registration of securities with the Securities and Exchange Commission 'by virtue of Section 10.1 of the Securities and Regulation Code,' EEI said.On Monday, the company announced that it was beefing up its domestic and international expansion by investing approximately P3.85 billion in four of its subsidiaries.The construction conglomerate said it was investing P550 million in EEI Ltd.
To Raise P6B Via Private Placement
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