THE Philippine Stock Exchange (PSE) on Monday said that it had approved Globe Telecom Inc.’s shelf-listing program of up to 20 million non-voting preferred shares with a par value of P50 apiece.
Up to 12.5 million non-voting preferred shares will be offered as the first tranche. Specifically, the firm offer will involve 7.5 million shares with an oversubscription option of another 5 million preferred shares at P2,000 per.
The PSE said its approval only related to Globe’s conduct of the follow-on offering and listing of the non-voting preferred shares, noting that the transaction remained in compliance with post-approval conditions and requirements of the bourse, the Securities and Exchange Commission and other regulatory bodies.
Based on Globe’s preliminary offering terms sheet, the offer period will run from 9 a.m. on Feb. 13 and end at 12 noon on Feb. 20, 2026, unless modified by Globe and its issue managers. The tentative listing date is set for March 2, 2026.
The telco said that proceeds from the offering were intended to be used “to redeem all or a portion of Globe’s perpetual capital securities and fund capital expenditures.”
BPI Capital Corp., BDO Capital & Investment Corp., and China Bank Capital Corp. were tapped as joint lead issue managers for the transaction.
First Metro Investment Corp. and Security Bank Capital Investment Corp., together with BPI Capital, BDO Capital, and China Bank Capital were named joint underwriters and joint bookrunners.
Globe shares on Monday added P9.00, or 0.57 percent, to close at P1,580.00 apiece.
