ARTHALAND Corp. received regulatory approval for its planned preferred share offering of up to P3 billion, aimed at refinancing maturing obligations and supporting ongoing project development.
The company disclosed receipt of a Certificate of Filing of Enabling Resolution from the Securities and Exchange Commission dated July 13, authorizing issuance of Series G and Series H preferred shares. The approval permits the company to proceed with its planned offering.
The certificate allows issuance of up to 6 million shares, each with a par value of P1. The base offer covers 4 million shares, with an oversubscription option for an additional 2 million.
Shares will be offered at P500 each and issued from unissued capital stock. They will trade under the symbols ALCPG and ALCPH once listed.
The full issuance could raise up to P3 billion if the oversubscription option is exercised. This would provide significant liquidity for the company.
Proceeds from the base offer will fund partial redemption of Series D preferred shares due in December 2026. This step reduces long‑term debt exposure.
If the oversubscription option is fully exercised, roughly P300 million will be invested in Cazneau to finance the completion of Una Apartments Tower 2. An additional P200 million will be used for general corporate purposes, while remaining funds support Series D redemption.
BDO Capital & Investment Corp. acts as the sole issue manager, lead underwriter, and lead bookrunner. Their role ensures the execution of the offering.
Shares traded at P0.44 on Wednesday, down 4.35% from the prior close. The decline reflects market reaction to the announcement.
