Suntrust Home Developers Inc. on Tuesday said it plans to acquire several properties to expand its operation from the proceeds of its rights offer to the existing shareholders.
The company is increasing its authorized-capital stock by P20 billion from the current P3 billion.
To do this, Suntrust, an affiliate of Andrew Tan's Megaworld Corp., will conduct a stock-rights offer to its existing holders of common shares. Suntrust is offering 2.5 new common shared for every existing common share.
|Source Institution||Securities and Exchange Commission|
|Place of Publication||Mandaluyong City|
|Original Publication Date||November 19, 2014|