In a stock exchange filing on Tuesday, DMCI revealed plans to raise funds through the sale of 10 million Class B preferred shares to the family’s privately held Dacon Corp. at a price of P1,000 each.
The preferred shares are convertible, meaning they can be exchanged for common shares of DMCI, whose portfolio includes Semirara Mining and Power, DMCI Homes, and other ventures in mining and power.
DMCI, alongside Dacon and Semirara, is closing in on the final purchase of Cemex Philippines, the country’s fourth-largest cement company.
DMCI earlier said it will purchase a 56.75 percent stake worth almost P10 billion in Cemex’s unlisted parent firm. Dacon will acquire about 32 percent, while Semirara will take 11.13 percent.
