Megawide Construction Corporation (MWIDE) listed its Series 2A and 2B preferred shares at the Philippine Stock Exchange (PSE) today. The infrastructure company intends to use the Php4.36 billion raised from its follow-on offering for the capacity expansion of its pre-cast plant and to fund its infrastructure projects.
The bell ringing event was attended by Securities and Exchange Commission (SEC) Chairman Emilio B. Aquino. PSE Chairman Jose T. Pardo and PSE Directors Diosdado M. Arroyo, Chief Justice Teresita J. Leonardo-De Castro (ret.), Consuelo D. Garcia, Edgardo G. Lacson, Roberto Cecilio O. Lim and Vivian Yuchengco participated in the event virtually.
In his welcome remarks during the event, PSE President and CEO Ramon S. Monzon said, “Since its initial public offering last February 18, 2011, we have seen Megawide expand its expertise and portfolio from residential and office buildings to airport infrastructures, renewable energy plants and transport-related projects. The company has proven to be a modern day David battling Goliath in the country’s engineering and infrastructure sphere.”
“I am pleased that PSE has proven to be a reliable conduit for Megawide for its capital raising activities: from its Php2.3 billion IPO in 2011, to its Php4 billion series 1 preferred share offering in 2014 and now for its Php4.36 billion series 2A and 2B preferred share offering,” Mr. Monzon added.
“The Duterte administration has embarked on the “Build, Build, Build” (BBB) Program since its early months to accelerate infrastructure development of the country which would lead to economic growth, create jobs, and improve the lives of Filipinos. In addition to accelerating the growth of infrastructure, the BBB Program has also been credited as a key driver in boosting the economy despite the pandemic,” said SEC Chairman Emilio B. Aquino in his keynote message during the listing ceremony. “Megawide is part of five projects with the Government. The Company seeks to show that there are big opportunities in public infrastructure projects, and transport-oriented developments with or without this health menace.”
Photo 1 (shows from left, by row): MWIDE Executive Director for Infrastructure Development Manuel Louie B. Ferrer and PSE COO Roel A. Refran; MWIDE Chief Financial Officer Ramon H. Diaz, MWIDE Chairman and CEO Edgar B. Saavedra; SEC Chairman Emilio B. Aquino, PSE President and CEO Ramon S. Monzon and PSE Issuer Regulation Division OIC Marigel B. Garcia; PNB Capital and Investment Corporation SAVP and Deal Head Jose Eduardo de Rivera, RCBC Capital Corporation First Vice President Xavier Y. Zialcita, Securities Clearing Corporation of the Philippines COO Renee D. Rubio and PSE General Counsel Veronica V. Del Rosario
Photo 2 (shows from left, by row): PSE Chairman Jose T. Pardo and PSE Director Vivian Yuchengco; PSE Directors Diosdado M. Arroyo, Chief Justice Teresita J. Leonardo-De Castro (ret.), Roberto Cecilio O. Lim and Consuelo D. Garcia; PSE Director Edgardo G. Lacson, PSE Treasurer Omelita J. Tiangco, RCBC Capital Corporation President Jose Luis F. Gomez and MWIDE Director Celso P. Vivas; MWIDE Independent Director Alfredo E. Pascual and MWIDE Head of Investor Relations Abigail Joan R. Cosico