Arthaland lists Series D shares


Arthaland Corporation (ALCO) listed its Series D preferred shares (ALCPD) at the Philippine Stock Exchange (PSE) on Friday, December 3. The company will use the P3 billion raised from its follow-on offering to redeem the Series B preferred shares (ALCPB) it issued in 2016. Proceeds from the ALCPB share sale was utilized by ALCO for acquisition and development of real estate projects, repayment of loans and general corporate purposes.

PSE President and CEO Ramon S. Monzon lauded the company for being a frontrunner in sustainability development in the country’s real estate sector, which contributed to the brisk take-up of its follow-on offering. “As with the previous preferred shares issuances, this Series D offering of Arthaland was warmly received by investors, and in this case, was more than 1.5 times oversubscribed. This comes as no surprise as more and more investors integrate sustainability into their investing criteria.  Arthaland is recognized as the only domestic property company with developments that are 100% certified as sustainable and has been recognized here and abroad many times over, for its green building advocacy, clearly placing the company on the sweet spot of ESG investing.”

Photo shows (from left) Arthaland Senior Vice President and Head of Strategic Funding and Investments Sheryll P. Verano, PSE President and CEO Ramon S. Monzon, PSE Chairman Jose T. Pardo, Arthaland Chairman and Independent Director Ernest K. Cuyegkeng, Arthaland Vice Chairman and President Jaime C. Gonzalez; PSE Director Ferdinand K. Constantino, Arthaland Director Christopher T. Po, Arthaland Director Jaime Enrique Y. Gonzalez, PSE Directors Chief Justice Teresita Leonardo de Castro (ret.), Ma. Vivian Yuchengco and Consuelo D. Garcia; Arthaland Head of Internal Audit Joseph R. Feliciano, BDO Capital and Investment Corporation President Eduardo V. Francisco, Sycip Law Partner Atty. Melyjane G. Bertillo-Ancheta, Romulo Law Partner Atty. Juan Ricardo Tan, Arthaland Chief Finance Officer Ferdinand A. Constantino, Arthaland Executive Vice President and Treasurer Cornelio S. Mapa, Jr.; BDO Capital and Investment Corporation Senior Vice President Gabriel U. Lim, BDO Capital and Investment Corporation Assistant Vice President Paula M. Tajanan, Sycip Law Associate Atty. Hailin Quintos-Ruiz,  BDO Capital and Investment Corporation First Vice President Barbara May M. Bilano.

Read full article on BusinessMirror

Leave a Reply