Phinma raises P1B from SRO

Phinma Corp., the diversified conglomerate of the Del Rosario Group, will pursue with its expansion initiatives after raising P1 billion from its successful stock rights offering.

- By RICHMOND MERCURIO

Phinma offered a total of 50 million common shares at a price of P20 apiece from Nov. 13 to 19.

The amount raised will support the company's investment and expansion opportunities directly catering to underserved families and communities.

"Phinma shall continue to serve Filipino families and communities by providing the essentials to a dignified life through the unified efforts of our businesses and investments in industries enabling us to make an even bigger impact on our society and country," Phinma chairman and chief executive officer Ramon del Rosario said.