Friday 17 August 2018
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2 months ago

Now shares offering OKd

The Securities and Exchange Commission has approved a plan of Now Corp., which aspires to be the country s third telecom provider, to raise as much as P1 billion through an offering of preferred shares. Based on an SEC document, Now is authorized to offer up to 10 million redeemable, convertible and nonvoting preferred shares at P100 a share. In its prospectus, Now said it intended to use a majority of the net proceeds from the offer partly to fund the capital expenditure for the expansion of the fiber-i

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