Megaworld Taps J.p. Morgan, Eyes Dollar-denominated Offering

By Author: Jon Viktor Cabuenas, GMA News
Total Articles: 37
Comment this article

Listed property developer Megaworld Corp. has tapped J.P Morgan Chase & Co. to arrange meetings with investors in Singapore and Hong Kong on the possible issuance of dollar-denominated securities.

In a regulatory filing on Monday, Megaworld vice president Dominic Isberto said the company tapped J.P. Morgan to serve as underwriter.

“Megaworld Corporation, based in Philippines, has mandated J.P. Morgan as the sole bookrunner to arrange a series of fixed income investor meetings in Singapore and Hong Kong commencing on April 3, 2018,” the filing read.

“A proposed Regulation S USD denominated securities offering may follow, subject to market conditions. The securities, if issued, are expected to be unrated and will be issued by Megaworld Corporation,” it said.

The company did not disclose further details on the possible issuance, but said the securities will not be registered with Philippines regulators.

“The securities referred to herein have not been and will not be registered with the Philippine Securities and Exchange Commission under the Securities Regulation Code of the Philippines,” it said.

Megaworld reported a net income of P12.8 billion in 2017, up 12.7 percent year-on-year, as a result of a 7.7-percent revenue increase to P50.4 billion.
Source : http://www.gmanetwork.com/news/money/companies/648523/megaworld-taps-j-p-morgan-eyes-dollar-denominated-offering/story/

For more information, please visit us at www.megaworldproperties.com