PHILIPPINES – DMCI Holdings Inc (PSE:DMC) announced on Monday that the Securities and Exchange Commission (SEC) has approved the issuance of Php1 billion worth of deferred coupon-paying retail bonds its wholly-owned real estate subsidiary DMCI Project Developers, Inc. (DMCI Homes).
In disclosure to the Philippine Stock Exchange (PSE), DMCI Holdings Inc (PSE:DMC) said the bonds has an initial offer of Php500 million and will be called “DMCI Deferred Coupon-Paying HomeSaver Bonds”.
“The financial instrument aims to encourage the middle income segment to save enough funds to purchase their own real estate property in the future,” DMCI told the PSE on Monday.
The DMCI Deferred Coupon-Paying HomeSaver Bonds will be offered starting today, September 28, 2015, until November 5, 2015. SB Capital Investment Corp. has been tapped as the issue manager and underwriter for the bond sale.
Proceeds of the Initial Offer will be used by DMCI Homes for working capital and other general corporate purposes.
DMCI Holdings, Inc. (PSE:DMC)’s stock was down 1.29% in the early trading session, with its last price as of 12 noon down to P12.24 a share, from last week’s close of P12.40.
A total of 504,400 shares exchanged hands in the early trading hours with a value of Php6.195 million. DMCI Holdings Inc has a 52-week high of P80.30 a share and a 52-week low of P10.40.
DMCI Holdings, Inc. (PSE:DMC) was incorporated on March 8, 1995 as a holding company to consolidate all construction business, construction component companies, and related interests of the Consunji family.
The Company was listed on the Philippine Stock Exchange on December 18, 1995. DMC’s subsidiaries and affiliates are engaged in the businesses of construction; real estate; coal mining; nickel mining; power generation; and water distribution.
The company has a market capitalization of Php164.64 billion. – BusinessNewsAsia.com