Century Properties completes P2-B preferred share sale

MANILA, Philippines —Antonio family-led Century Properties Group Inc. (CPG) completed a P2-billion preferred share offer, giving the builder added financial muscle to support its expansion.

The perpetual, cumulative, non-participating, non-voting, redeemable, non-convertible shares were listed on the Philippine Stock Exchange on Thursday.

Century Properties is the builder of the Trump Tower Philippine and other upscale residential towers has been aggressively expanding in the affordable income market.

Ponciano S. Carreon Jr. said the strong reception to the offer allow the company to price dividends at the lower end of the range at 7.5432 percent.

He said the timing of the …

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