CENTURY Properties Group Inc. (CPG) on Friday said the Securities and Exchange Commission (SEC) was "favorably considering" its application for primary offering of up to 50 billion preferred shares, inclusive of oversubscription.

In a disclosure, the real estate firm said it had received a pre-effective letter from the SEC regarding its offering of up to 30 billion Series "B" preferred shares, with an oversubscription option of up to 20 billion, at an price of P100 each.

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