The Securities and Exchange Commission (SEC) has approved the P8-billion preferred share offering of conglomerate Filinvest Development Corp. (FDC).
Based on the filing with the SEC, the conglomerate led by the Gotianun family will issue 6 million preferred shares as part of the base offer, with an oversubscription option for another 2 million.
The preferred shares, which are perpetual, cumulative, non-voting, non-participating, non-convertible, redeemable and re-issuable, will be priced at P1,000 apiece.
FDC expects to net up to P7.93 billion from the offer, assuming the oversubscription is fully exercised. Proceeds will be used for refinancing, capital expenditures and general corporate purposes.
The preferred shares will be offered from July 21 to 25, in time for listing at the main board of the Philippine Stock Exchange on Aug. 4, 2025, according to the latest timetable submitted to the SEC.
The is also subject to PSE approval.
FDC tapped BPI Capital Corp., BDO Capital & Investment Corp., China Bank Capital Corp., Land Bank of the Philippines and Security Bank Capital Investment Corp. as joint lead underwriters and joint book runners for the offer.
BPI Capital Corp. will serve as the sole issue manager.
The offering is part of the company’s broader strategy to diversify its funding sources and attract more investors.
This is also aligned with FDC’s strategic direction to unlock value in its core businesses while expanding in high-growth sectors such as affordable, middle-income, and high-end residential markets, consumer banking, hospitality and power generation.
FDC earmarked P24 billion for 2025 capital expenditures, up 20 percent from P20 billion it spent in 2024. Bulk of this year’s spending was earmarked for real estate, hotel, renewables and power businesses.
