ADVERTISEMENT
970x220
.navbar-nav.header-menu { width: 100%; justify-content: center; } .tab-menu-outers .nav-item{ width: unset; } .tab-bar-social.mt-5 { margin-top: 0 !important; } .second-header-menu { margin-top: 27px; padding: 12px 0; border-top: 1px solid #C3C1AE; border-bottom: 1px solid #C3C1AE; } .third-header-menu{ padding: 12px 0; } .bottom-header-menu { margin-right: 25px; text-decoration: none; font-family: "Canicule Display v0.3 Trial" , serif; font-weight: 500; font-size: 15px; line-height: 16px; color: black; } .bottom-header-menu:hover { color: #0A58CA !important; } header .time-date-section { display: flex; align-items: end; } header .mb-header-center .align-items-center .col-3 , header .mb-header-center .align-items-center .col-6, header .top-header-container .col-md-6{ z-index: 100; } header .desktop-menu-bar li:hover a{ background: transparent; color: #2E3192 !important; } @media(max-width: 767px) { header.header.mb-header{ display:none; } .second-header-menu .justify-content-center{ justify-content: start !important; } .second-header-menu ul , .third-header-menu ul{ display: grid; grid-template-columns: 1fr 1fr; width: 100%; } }

CPG secures P2-B from preferred share offering

Published Feb 22, 2024 09:02 am

Property developer Century Properties Group Inc. (CPG) has raised P2 billion from its follow-on offering of perpetual, cumulative, non-participating, non-voting, redeemable, non-convertible Series B Preferred Shares (CPGPB). 

“We are very pleased with the investors' reception of our issuance which allowed us to price at the tighter end of the marketing spread and set the dividend rate at 7.5432 percent," said CPG Chief Finance Officer Ponciano S. Carreon, Jr. 

He noted that "the timing for CPGPB issuance was also good as the benchmark interest rates have started to move lower with the easing of inflationary pressures.”

China Bank Capital Corporation acted as the sole issue manager, lead underwriter, and bookrunner for the transaction.

“On behalf of CPG, we are grateful to our institutional and retail investors, transaction partners, dedicated working group, and stakeholders for their unwavering trust,” said CPG President and CEO Marco R. Antonio. 

He added that “the success of this undertaking is a testament to our combined efforts and their enduring support and confidence in CPG's growth.”

“The proceeds of this fundraising will help the company to fortify its commitment to prudent financial management and facilitate sustained expansion efforts,” noted Antonio.

The Philippine Stock Exchange had earlier approved the planned follow-on offering and listing by CPG of CPGPB worth up to P4 billion, lower than the initially planned P5 billion.

Documents at the PSE showed that CPG offered 40 million preferred shares at P100 per share consisting of a base offering of 20 million shares and an oversubscription option of another 20 million shares.

Last January, the Securities and Exchange Commission had approved the registration of these preferred shares consisting of a base offering of 30 million shares and an oversubscription of 20 million shares.
 

Related Tags

Century Properties Group Inc. marco antonio Ponciano S. Carreon Jr.
ADVERTISEMENT
300x250
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ articles_filter_1564_widget.title }}

.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0 72px 0 12px; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // The two offset values // changed to 10 from 1 , 2 const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } function isNearBottom() { return window.innerHeight + window.scrollY >= document.documentElement.scrollHeight - 100; } function onScroll() { if (isLoading) return; // Skip if already loading if (isNearBottom()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; // Set flag to prevent multiple calls const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { loadCount++; // Increment only after successful execution }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; // Reset flag after execution }); } } window.addEventListener("scroll", onScroll); }); // Mutation Observer for Newly Loaded Articles const observer = new MutationObserver(() => { const articles = document.querySelectorAll(".articles-observe"); if (articles.length > 0) { observeArticles(articles); } }); observer.observe(document.body, { childList: true, subtree: true }); // Intersection Observer for Updating URL function observeArticles(articles) { const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); } } }); }, { threshold: 0.1 } ); articles.forEach(article => intersectionObserver.observe(article)); }
.col-md-12.noPadding.col-xs-12:has(.mb-header-bottom) {padding: 0;} .bottom-footer {color: #fff;background-color: #2E3192;padding: 8px 0;} .bottom-footer .bottom-footer-menu {font-family: Inter;font-weight: 400;font-size: 12px;line-height: 16px;padding: 0px 10px !important;color: #fff !important;text-decoration: none; } .bottom-footer .container {display: flex;justify-content: space-between;align-items: center; } .bottom-footer p{font-family: "Inter";font-weight: 400;font-size: 12px;line-height: 16px;margin-bottom: 0;} .subscribe-button{position: absolute;bottom: 15%;right: 11%;} .subscribe-container {position: fixed;display: flex;align-items: center;background-color: white;height: 50px;border-radius: 50px;box-shadow: 1px 3px 8px 3px rgba(0, 0, 0, 0.2);width: 50px;overflow: hidden;transition: width 0.3s ease-in-out;text-decoration: none;white-space: nowrap; } .subscribe-icon {background-color: #2E3192;color: white;border-radius: 50%;width: 50px;height: 50px;display: flex;align-items: center;justify-content: center;font-size: 18px;flex-shrink: 0;transition: border-radius 0.3s ease-in-out; } .subscribe-text {font-size: 18px;font-weight: bold;color: black;margin-left: 0;margin-right: 0;width: 0;visibility: hidden;opacity: 0;transition: opacity 0.3s ease, width 0.3s ease;} .subscribe-container:hover {cursor: pointer;width: 170px;} .subscribe-container:hover .subscribe-icon {border-bottom-right-radius: 0;border-top-right-radius: 0;} .subscribe-container:hover .subscribe-text {visibility: visible;opacity: 1;margin-left: 10px;margin-right: 10px;width: auto;} h6.footer-heading{ font-weight: 700; } #bottom-footer ul li { display: flex; align-items: center; } @media screen and (min-width: 767px) and (max-width: 991px) { .bottom-footer p, .bottom-footer .bottom-footer-menu{ font-size: 9px; } } @media(max-width: 767px) { .bottom-footer .container {display: block;} .bottom-footer .container .justify-content-center{margin-top: 20px !important;} .bottom-footer .container .justify-content-center .list-group{ width: 100%; display: grid; row-gap: 10px; grid-template-columns: 1fr 1fr 1fr; justify-content: unset; } .bottom-footer p{font-size: 10px;} .subscribe-container { width: 50px !important; overflow: hidden;} .subscribe-container:hover { width: 50px !important;} .subscribe-container .subscribe-text {display: none !important;} .subscribe-button{right: 15%;bottom:7%;} } .mb-header-bottom .header-menu:hover { color: #2E3192 !important; } @media(max-width: 400px) { .bottom-footer .container .justify-content-center .list-group{ grid-template-columns: 1fr 1fr; } }

Sign up by email to receive news.