PHINMA Corp. on Friday said it had raised approximately P975 million in net proceeds from a stock rights offering (SRO) involving a total of 50 million common shares.
In a disclosure, Phinma said it issued 40,964,001 shares under the first and second rounds of the offering. One million common shares, meanwhile, were issued to qualified buyers; and the balance of 8,035,999 common shares was issued to institutional investors.
