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Manila Bulletin devider Business devider The Stock Market devider Investors pour ₱25 billion into Globe to support 5G expansions

Investors pour ₱25 billion into Globe to support 5G expansions

Published Mar 2, 2026 11:43 pm
Ayala-led Globe Telecom Inc. has successfully raised ₱25 billion from its oversubscribed offering of non-voting preferred shares, as it looks to bolster funding for its expansion plans.
In a disclosure to the Philippine Stock Exchange (PSE), Globe said it issued 12.5 million preferred shares at an offer price of ₱2,000 per piece, each with a par value of ₱50 apiece.
The offer, which had a base size of ₱15 billion, was oversubscribed by 2.40 times.
This enabled the company to fully exercise the ₱10 billion oversubscription option for an additional five million shares.
Globe divided the offer into two series, assigning a 6.1179 percent dividend rate per annum for the Series A shares and 6.7631 percent per annum for the Series B shares.
The offer ran from Feb. 13 to 20 and was made available through the online stock trading platform GStocks PH, powered by e-wallet giant GCash, to make it more accessible. The shares were listed and began trading on the Philippine Stock Exchange on March 2.
BPI Capital Corp., BDO Capital and Investment Corp., and China Bank Capital Corp., are the joint lead issue managers. They are joined by First Metro Investment Corp. and Security Bank Capital Investment Corp. as joint underwriters and bookrunners.
Carl Cruz, president and chief executive officer of Globe, said the overwhelming support for the offer reflects the investing community’s strong confidence in the company’s capital management and long-term strategy.
“This strong reception reflects confidence in Globe's ability to execute our strategic priorities while continuing to elevate network quality and customer experience,” he said.
Net proceeds from the offer will be used to redeem all or a portion of the company’s United States (US) dollar-denominated perpetual capital securities and to fund capital expenditures (capex).
Globe plans to use the funding to support the continued expansion and enhancement of its network and digital infrastructure, having recently rolled out 1,549 new 5G sites across key areas nationwide last year.
The telco slashed its capex by 18 percent in 2025 to ₱46.2 billion from ₱56.2 billion in 2024, aligned with its full-year guidance of below $1 billion.
For the year, Globe is keeping capex below $1 billion as part of its disciplined approach to capital optimization while extracting greater returns from prior network investments.
As the company grappled with weaker consumer spending, its net income last year declined by four percent to ₱23.26 billion from ₱24.29 billion in the previous year.
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