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Manila Bulletin devider Business devider The Stock Market devider EEI sets ₱4-billion preferred share offering to fund awarded projects

EEI sets ₱4-billion preferred share offering to fund awarded projects

Published Jul 15, 2026 04:20 pm

Engineering firm EEI Corp. is raising ₱4 billion through the issuance of preferred shares by way of private placement to pay off loans and finance the construction of projects it has recently secured.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, July 15, the firm said its board of directors approved the issuance of 40 million series E preferred shares with a par value of ₱0.50 each from its unissued preferred shares at an offer price of ₱100 per share.

The preferred shares will be cumulative, non-voting, non-participating, non-convertible, and non-reissuable. They will be perpetual unless EEI exercises its sole option to redeem them five years from the date of issuance.

“The net proceeds of the offer shall be used to fund the company’s general corporate and working capital requirements, financing of recently awarded projects, and settlement of loan obligations,” EEI said.

The construction giant kicked off 2026 with a strong start by bagging ₱1.6-billion worth of contracts for major real estate construction projects in January and February.

EEI President and Chief Executive Officer (CEO) Henry D. Antonio said the new projects bring EEI closer to meeting its 2026 order book targets and reinforce its presence in the high-growth residential and hospitality construction segments.

“This is a positive development to start 2026. With these residential and hospitality projects, we push our diversified portfolio further to regional markets and expand our capabilities to build sustainable communities throughout the country,” he noted.

Antonio added, “This will not only fuel the industry with more jobs but will also help our real estate partners build spaces that elevate the lives of people through innovation.”

EEI was tapped to construct Torre Lorenzo Development Corp.’s Crown Residences, a 21-story residential tower, and Crest Suites, a 21-story mixed-use development, both located in Tierra Davao.

Crown Residences will feature expansive wellness facilities along with 322 residential units, while Crest Suites, a hospitality investment property, will have 16 floors of condominium-hotel units and three floors of residential condominium units with a combined total of 260 units.

Propelled by a growing pipeline of projects, EEI expects to deliver steady financial performance and forge successful partnerships with companies across various sectors. - James A. Loyola

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