BY ANGPING & ASSOCIATES SECURITIES
GT Capital Holdings, Inc. (GTCAP) is selling voting preferred shares to existing shareholders next month to give the conglomerate more room to bring in more foreign investors.
Shareholders will be entitled to subscribe to 174.3 million voting preferred share.
The offer period will run from April 1 to 8, with the issue date set on April 13.
Proceeds from the sale of non-cumulative, non-participating, non-convertible and redeemable preferred shares will be used for general corporate purposes, GT Capital said.