CONSTRUCTION DEMAND Megawide’s total order book hit P48 billion as of end-June. — INQUIRER FILE PHOTO
MANILA, Philippines – Megawide Construction Corp. has raised about P4.5 billion from the sale of its remaining 9-percent stake in Citicore Renewable Energy Corp. (CREC), with proceeds earmarked for expansion and debt reduction efforts.
The construction and engineering company led by tycoon Edgar Saavedra said on Friday that it completed the monetization of its CREC investment on June 26 through several tranches involving the sale of 1.004 billion shares.
READ: Megawide Q1 net income jumps 26% to P265M
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