Philippines’ Megawide gets OK for up to PHP 7 billion preferreds

By Marisa Wong

Madison, Wis., Nov. 10 – Megawide Construction Corp. confirmed it plans to offer up to PHP 7 billion of non-voting preferred shares to the public.

The Philippine Securities and Exchange Commission has approved the offering, the company said.

Megawide will offer up to 70 million preferred shares at PHP 100 apiece, including 30 million preferreds to cover over-allotments.

The construction and engineering firm is based in Quezon City, Philippines.

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