The Securities and Exchange Commission (SEC) has given its approval to 8990 Housing Development Corp. to proceed with its P6.4-billion follow-on offering, of which proceeds will be used to fund the firm’s land-banking activities and working capital.
A filing with the SEC showed that the commission has approved 8990 Holdings’ sale of 1.034 billion shares at a maximum price of P12.70 a share from January 30, 2014, to February 14, 2014. The official listing date of the shares in the Philippine Stock Exchange will be on February 21, 2014.
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