GT Capital to offer P12-B preferred shares

GT Capital Holdings Inc., the holding firm of the Ty family, said on Friday that its Board of Directors has approved a plan to raise up to P12 billion from a public offering of preferred shares.

In a disclosure to the Philippine Stock Exchange (PSE), GT Capital said the offering will consist of 8 million series “A” and “B” shares, with an oversubscription of 4 million shares, at an offer price of P1,000 apiece.