Philippines’ GT Capital eyes up to PHP 12 billion perpetual preferreds

By Marisa Wong

Morgantown, W.Va., June 24 – GT Capital Holdings, Inc. said its board of directors approved a public offering of up to PHP 8 billion of series A and B perpetual preferred shares.

The offering will include an up to PHP 4 billion oversubscription option, for a maximum issue size of PHP 12 billion.

The preferreds will be offered at PHP 1,000 per share.

The securities are subject to regulatory approval.

The investment holding company is based in Makati City, Philippines.

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