The Securities and Exchange Commission approved Friday the share sale of Synergy Grid & Development Philippines Inc., The Keepers Holdings Inc. and Megawide Construction Corp.
The three deals worth a combined P40.3 billion are expected to boost market activities in the fourth quarter.
The SEC also approved the P50-billion bond offering of property developer Ayala Land Inc.
The SEC said Synergy Grid would offer to the public up to 1.053 billion primary shares priced at P15 to P25 each. An overallotment option for another 101 million secondary shares will also be offered by selling shareholders Henry Sy Jr. and Robert Coyiuto Jr.
Synergy Grid will use proceeds from the offering worth up to P28.8 billion to subscribe to non-voting preferred shares to be issued by National Grid Corporation of the Philippines, which it will use to finance capital expenditures and related costs and expenses.
The follow-on offering is scheduled to run from Oct. 26 to Nov. 2, with the shares to be listed on the PSE on Nov. 10, based on the latest timetable submitted to the SEC.
The Keepers Holdings, formerly Da Vinci Capital Holdings Inc. of businessman Lucio Co, plans to raise up to P7.5 billion from the offering of 3 billion common shares at P2 to P2.50 apiece.
Net proceeds from the share sale will be used for strategic acquisition opportunities, expansion of product portfolio and distribution channels, investments in distribution and logistics network, working capital and general corporate purposes.
The offer period will run from Nov. 8 to 12, with the shares to be listed on the PSE on Nov. 22, based on the latest timetable submitted to the SEC.
Meanwhile, Megawide plans for raise up to P4 billion from the issuance of preferred shares. Under the plan, Megawide will offer 30 million preferred shares with an oversubscription option for another 10 million preferred shares.
The shares will be listed and traded on the main board of the PSE.
The SEC also approved the P50-billion bond shelf registration of Ayala Land Inc. For the first tranche, Ayala Land will issue up to P2.75 billion worth of fixed-rate bonds due 2031, with an oversubscription option for another P2.75 billion.
Proceeds will be used to partially refinance the company’s short-term loans and capital expenditures for projects In Batangas, Laguna and Bulacan.
