EEI to raise P2 B via private placement
The Philippine Star
|November 21, 2024
Listed construction giant EEI Corp. is raising P2 billion via the issuance of preferred shares to bolster the company's balance sheet and fund future projects.
In a stock exchange filing, EEI said it secured board approval to issue 20 million preferred shares with a par value of P0.50 from its unissued preferred shares by way of private placement.
EEI said the subscription to the preferred shares by way of private placement has a total aggregate value of P2 billion.
RCBC Trust Corp. will serve as investment manager.
This story is from the November 21, 2024 edition of The Philippine Star.
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