Globe Telecom Raises ₱25 Billion from Preferred Share Issue

Globe Telecom has raised ₱25.0 billion from the issuance of 12.5 million cumulative, non-voting, non-participating, non-convertible, redeemable, and reissuable peso-denominated perpetual preferred shares under its recently concluded preferred shares offer.

The preferred shares were formally listed and began trading on the Philippine Stock Exchange today. (Photo: Globe Telecom Facebook)

The shares were issued in two series at an offer price of ₱2,000 per share, with a par value of ₱50 per share.

Net proceeds from the offer will be used to redeem all or part of Globe’s U.S. dollar-denominated perpetual capital securities and to fund capital expenditures supporting the continued expansion and enhancement of its network and digital infrastructure.

The offer was 2.40 times oversubscribed over the ₱15.0 billion base size, reflecting strong demand from the investing community and confidence in Globe’s disciplined capital management and long-term strategy.

Robust demand enabled the company to fully exercise its ₱10.0 billion oversubscription option.

The preferred shares were formally listed and began trading on the Philippine Stock Exchange today.

Globe President and Chief Executive Officer Carl Raymond R. Cruz said, “We are encouraged by the overwhelming support shown by our institutional and retail investors for this offer. This strong reception reflects confidence in Globe’s ability to execute our strategic priorities while continuing to elevate network quality and customer experience. We remain committed to sustaining disciplined investments and building a resilient organization focused on delivering long-term value for our stakeholders.”

Cruz added: “We believe this offer underscores the strength of Globe’s credit fundamentals and our disciplined balance sheet management. The robust demand and prudent pricing further reinforce market confidence in our capital management approach. This transaction strengthens our capital structure, maintains financial flexibility, and positions us to pursue our strategic objectives while maintaining a clear focus on sustainable free cash flow generation.”

Globe’s Chief Financial Officer, Treasurer, and Chief Risk Officer Juan Carlo C. Puno said the offer was made available through the GCash mobile app’s online stock trading platform, GStocks PH, making investing more accessible to Filipinos.

BPI Capital Corporation, BDO Capital & Investment Corporation, and China Bank Capital Corporation served as joint lead issue managers.

Together with First Metro Investment Corporation and Security Bank Capital Investment Corporation, they also acted as joint underwriters and joint bookrunners.