MRC Allied Inc. has agreed to sell a 21 percent stake to two private investors for ₱315 million to help pay down debt and fund corporate obligations.

In a disclosure to the Philippine Stock Exchange on Monday, Jan. 19, MRC said the company’s board of directors approved the issuance of 315 million new common shares priced at ₱1.00 each.

The private placement will be split between Peregrino P. Fernandez and Kong Ming Yeung, two investors with extensive backgrounds in the local construction and property development sectors.

The capital infusion will expand MRC Allied’s subscribed capital to approximately 1.5 billion common shares from its current 1.18 billion outstanding shares.

Fernandez is set to acquire 215 million shares, representing a 14.3 percent interest in the company, while Yeung will purchase 100 million shares for a 6.7 percent stake.

Under the terms of the agreement, the ₱315 million must be paid in full within 10 days of signing the subscription documents.

The newly issued shares will be subject to a 180-day lock-up period, a standard regulatory requirement to prevent immediate divestment following a private placement.

The transaction serves as a primary component of a broader ₱1 billion fundraising strategy previously announced by MRC Allied.

Management plans to use the proceeds to settle outstanding advances and loans recorded on the company’s balance sheet, aimed at strengthening its financial position as it navigates the renewable energy and property markets.

The entry of Fernandez brings industrial expertise to the company’s orbit. He is the owner of Melekon Contractors Inc., a local construction firm involved in power generation, mining, and large-scale civil engineering projects such as dredging and reclamation.

Fernandez has a long history in the local energy sector, having chaired the committee responsible for establishing the Wholesale Electricity Spot Market. His portfolio also includes interests in tertiary hospitals and renewable energy ventures, sectors that align with MRC Allied’s stated long-term shift toward clean energy production.

Yeung, the second investor, operates through Supercity Capital Ventures Inc. and Metrosquare Holdings Inc. His focus remains on commercial real estate development and leasing within the National Capital Region, where he has maintained operations for more than two decades.

Shares of MRC Allied were unchanged following the announcement. The company has been pivoting its business model in recent years, moving away from its legacy as a traditional property developer to focus more on the country’s burgeoning renewable energy sector and infrastructure projects.

Yeung has built a portfolio of several commercial and office buildings across the Metropolitan Manila managed through his Enterprise Metrosquare Management Services.