GLOBAL Ferronickel Holdings Inc. (FNI) said it has obtained clearance from the Securities and Exchange Commission (SEC) to raise as much as P2.025 billion through a follow-on offering, which may be conducted as early as next month.

The SEC said FNI’s follow on-offering application was approved during an en banc session on Tuesday. FNI plans to sell 250 million shares priced at a maximum of P8.10 each.

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