The sustainable property developer's Series G and H preferred share offering is open for subscription through GStocks PH, the investment platform offered by AB Capital Securities Inc. within the GCash app.
The offer period runs from Sept. 14 to 25.
According to a statement, the shares are priced at P500 each. Series G, which will trade under the symbol ALCPG, carries a dividend rate of 7.3260 percent per annum, while Series H, which will trade as ALCPH, carries a dividend rate of 7.8105 percent per annum, subject to the terms and conditions of the issue.
Preferred shares typically pay fixed dividends and give holders priority over common shareholders in receiving dividend payments.
Easier access
The offering gives retail investors another investment option while allowing them to invest directly in Arthaland, a property developer known for sustainable projects.
Making the shares available through GStocks PH also removes some of the traditional barriers to participating in securities offerings.
Retail investors traditionally needed a separate bank account to begin trading, while participating in an issuance — whether an initial public offering or a follow-on offering — often required coordinating with a broker.
GStocks PH's fully digital IPO and FOO subscription feature is designed to streamline that process.
Its built-in subscription meter displays the availability of shares allocated to AB Capital Securities, while real-time allocation allows investors to confirm their share allotments upon subscription instead of waiting until the offer period closes.
If the broker's initial tranche is fully taken up and the offering becomes oversubscribed on the platform, investors can still place orders and receive their allocation results after the offer period.
Financial inclusion
For Mynt, the operator of GCash, making securities offerings available digitally is part of a broader effort to lower barriers to investing.
"Financial inclusion is not only about more financial services. It is about creating a simpler, more rewarding experience that keeps Filipinos' needs in mind," said Mynt group head of new businesses Winsley Bangit in a statement.
"By digitizing financial services and making investing more convenient, we make it easier for Filipinos to participate and take greater control of their financial journeys," Bangit added.
Fully verified GCash users can access the platform by opening the app, selecting "Invest" and choosing GStocks PH.
New investors can complete the onboarding process digitally and transfer funds to and from their GCash wallets at no charge, without needing a bank account.
The addition of Arthaland's preferred shares supports GStocks PH's efforts to broaden retail participation in the Philippine capital market by making securities offerings more accessible through a mobile platform. —Connie Fernandez-Brojan | Ed: Corrie S Narisma
