Century Properties Group lists P25B preferred shares

Century Properties Group lists P25B preferred shares
Century Properties Website

PROPERTY developer Century Properties Group Inc. (CPG) completed its P2 billion perpetual, cumulative, non-participating, non-voting, redeemable, non-convertible Series B Preferred Shares (CPGPB) follow-on offering with the bell-ringing at the Philippine Stock Exchange (PSE) on Thursday, Feb. 22, 2024.

China Bank Capital Corp. acted as the sole issue manager, lead underwriter and bookrunner for the transaction.

CPG president and chief executive officer Marco Antonio said the proceeds of the fundraising will help the company to fortify its commitment to prudent financial management and facilitate sustained expansion efforts.

Last month, CPG announced two projects for the first half of 2024 under its Premium In City Line: “The Hotel Residences at Acqua” in Mandaluyong City, offering move-in ready suites, and a mid- rise residential development at Azure North in San Fernando, Pampanga, with the first tower offering 375 units.

The development will offer multi-feature water-park amenities, giving and appealing dimension to resort living.

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