Philippines-based 8990 Holdings gets go-ahead to issue preferreds

By Marisa Wong

Los Angeles, Sept. 29 – 8990 Holdings, Inc. said its board of directors has approved the issuance of up to 30 million cumulative non-convertible redeemable perpetual preferred shares with an oversubscription option for up to 20 million preferred shares, according to a 17-C filing with the Philippine Securities and Exchange Commission.

China Bank Capital Corp. will be the issue manager, lead underwriter and bookrunner.

8990 is a property developer based in Makati City, Philippines.

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