The recently concluded preferred share offering of green developer Arthaland Corp. (ALCO) received a positive response from investors, reflecting confidence in the Po-led company’s sustainable and high quality projects.
ALCO raised P3 billion from the offering of Series D preferred shares which was oversubscribed by 1.5 times.
Philippine Stock Exchange president and CEO Ramon S. Monzon lauded the company for being a frontrunner in sustainability development in the country’s real estate sector, which contributed to the brisk take up of its follow-on offering.
Monzon said this comes as no surprise as more and more investors integrate sustainability into their investing criteria.
“Arthaland is recognized as the only domestic property company with developments that are 100% certified as sustainable and has been recognized here and abroad many times over, for its green building advocacy, clearly placing the company on the sweet spot of ESG investing,” Monzon said.
Proceeds from the share sale will be used to redeem the Series B preferred shares ALCO issued in 2016 as well as for the
acquisition and development of real estate projects and for general corporate purposes.
SOURCE: Bilyonaryo
0 comments:
Post a Comment