PSE Approves Phinma’s P1.1-Billion Stock Rights Offering for Expansion

Phinma Corp. has secured approval from the Philippine Stock Exchange (PSE) to raise P1.1 billion through a stock rights offering (SRO) next month, aiming to bolster its capital for growth and expansion initiatives. The PSE announced Thursday that it had cleared Phinma’s listing of up to 51.5 million common shares, with a potential price of up to P21.55 each, a 7.75% premium over the last closing price of P20. The final price will be confirmed on October 31, with the offering set for November 13 to 19 and a tentative listing date on November 27.

According to Phinma’s preliminary prospectus, the funds will be allocated across several business segments. The Construction Materials Group (CMG), including Phinma Solar, will receive P285 million. Of this, P170 million will support renewable energy projects won through the Department of Energy’s Green Energy Auction Program, while P114 million is designated for a new cement plant in Davao del Norte.

Phinma Hospitality is set to receive P250 million for hotel development in Bacolod’s newly launched Saludad township, while Phinma Properties will use P200 million for projects in Bacolod, Cebu, Iloilo, and Davao. The remaining P239.56 million will go toward new ventures and corporate purposes.

“This stock rights offering will fuel our growth, strengthen our balance sheet, and empower us to make an even greater impact on Filipino families and communities,” said Phinma CFO EJ Qua Hiansen.