Now Corp. to sell P1.5-B preferred shares

LISTED IT firm Now Corp. is planning to raise P1.5 billion by offering 15 million preferred shares at P100 each to support its expansion plans.

The company told the Philippine Stock Exchange on Monday that it filed a registration statement with the Securities and Exchange Commission (SEC) on Friday, February 17, in connection with the primary offer of 15 million redeemable, convertible, non-participating, and non-voting preferred shares as well as the offer of detachable subscription warrants.