ARTHALAND Corp. raised P2.15 billion from an offering of Series G and H preferred shares that were listed on Monday.
The offering was 1.43 times oversubscribed despite continued market volatility, the company said, reflecting continued investor interest in its business model and long-term growth prospects.
The Series G and Series H preferred shares carry dividend rates of 8.125 percent and 8.75 percent per annum, respectively.
Arthaland said the proceeds would be used primarily to fund the redemption of its Series D preferred shares, while also supporting ongoing and future property developments.
“Today’s listing of our Series G and H preferred shares tells us that trust is still there, in a simple idea that high-quality, sustainable developments create a wealth of life at home, at work, in the community, and for the country,” Arthaland director Christopher Po said.
The listing marked Arthaland’s fifth preferred share offering on the Philippine Stock Exchange and expanded its capital base for its sustainable property development plans.
The company said its portfolio of sustainable residential and commercial developments had grown nearly fivefold since its maiden public offering to more than 450,000 square meters of gross floor area.
Arthaland aims to nearly double its gross floor area to 1 million square meters over the next decade.
Its development pipeline includes Sondris, a luxury residential project on Arnaiz Avenue in Makati in partnership with Mitsui Fudosan; Liv, a two-tower residential project along Katipunan Avenue in Quezon City; and Una Apartments Tower 3 at Sevina Park in Biñan, Laguna.
The company has also completed the master plan for Project Vanilla, an estate in Cebu City that would be developed in phases.
“Our mission has not changed: to create developments that are innovative, sustainable, and built to last,” Po said.
Arthaland said these projects formed part of a long-term strategy to develop sustainable communities across different market segments while maintaining its focus on environmental stewardship, resource efficiency and occupant wellness.
The company’s shares last closed at P0.455 each on Friday.
