Gotianun-led Filinvest Development Corp. (FDC) successfully raised P8 billion from its inaugural preferred shares offering, driven by strong demand from both institutional and retail investors.
The company said the offering was oversubscribed by 1.66 times the base offer of P6 billion, allowing it to exercise its oversubscription option to raise the full P8 billion.
“Our successful maiden preferred shares issuance marks a historic milestone in our corporate history and demonstrates investor confidence in FDC’s vision and our commitment to sustainable growth,” said FDC president and chief executive Rhoda Huang.
“We are very thankful for the exceptional support that we received from our investors, and we are excited to continue building on our momentum and delivering long-term value to our stakeholders.”
The preferred shares were listed on the Philippine Stock Exchange under the symbols “FDCPA” for the Series A shares and “FDCPB” for the Series B shares.
The Series A shares have an initial dividend rate of 6.6253 percent per annum, while the Series B shares have a rate of 7.1087 percent per annum.
FDC will use the proceeds to refinance existing obligations and support key growth initiatives in its core businesses, including residential real estate, consumer banking, hospitality, and power generation.
BPI Capital Corp. served as the sole issue manager. Joint lead underwriters and bookrunners for the offer were BDO Capital & Investment Corp., China Bank Capital Corp., Land Bank of the Philippines, and Security Bank Capital Investment Corp.
FDC reported a net income of P3.6 billion for the first three months of 2025, a 25 percent increase from the P2.9 billion earned during the same period last year.
