LISTED builder EEI Corp.'s board has approved the private placement of preferred shares to raise about P6 billion in fresh capital to fund the firm's real estate and power initiatives and for general and working capital requirements.
EEI told the stock exchange that its board, in a meeting on Tuesday, approved the issuance of 60 million preferred shares, to be denominated as Preferred Shares Series "D", with a par value of P0.50, from unissued preferred shares at P100 each by way of private placement.
