{"id":329350,"date":"2024-09-09T06:34:01","date_gmt":"2024-09-08T22:34:01","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329350"},"modified":"2024-09-09T06:34:03","modified_gmt":"2024-09-08T22:34:03","slug":"trade-the-news-cli-shifts-unused-foo-proceeds-to-land-acquisitions-project-devt","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-cli-shifts-unused-foo-proceeds-to-land-acquisitions-project-devt\/","title":{"rendered":"Trade the News: CLI shifts unused FOO proceeds to land acquisitions, project dev’t"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Cebu Landmasters, Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>CLI<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 3.24<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Cebu Landmasters, Inc.\u2019s (CLI) board approved a move to reallocate the unused proceeds from its recent follow-on offering (FOO) to project development as part of the company\u2019s expansion efforts.<\/p>\n\n\n\n

The FOO proceeds, valued at P3.66 billion, will now be used for land acquisitions, project development expenditures, and general corporate expenses, CLI said in a regulatory filing on Thursday.<\/p>\n\n\n\n

Of the total, P1.91 billion will be used for land acquisitions, P1.35 billion for project development expenses, and P395.46 million for general corporate expenses.<\/p>\n\n\n\n

\u201cThese opportunities have emerged as critical components of the company\u2019s expansion strategy. The original allocation of these proceeds was intended for specific projects that have since secured committed financing through approved term loans or are in the advanced stages of obtaining such financing,\u201d CLI said.<\/p>\n\n\n\n

According to CLI, the re-allocation allows the company to \u201cleverage its financial flexibility to seize high-priority growth opportunities that align with its long-term objectives.\u201d<\/p>\n\n\n\n

\u201cThis reallocation is consistent with CLI\u2019s ongoing commitment to prudent financial management and its strategic focus on maximizing shareholder value,\u201d it said.<\/p>\n\n\n\n

In April, CLI raised P4.28 billion from its FOO, which consisted of four-year Series A-1 shares and seven-year Series A-2 shares. Series A-1 shares had a dividend rate of 7.585% per annum, whereas Series A-2 shares were priced at 8.25% per annum.<\/p>\n\n\n\n

The shares are listed on the Philippine Stock Exchange.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329350","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329350"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329350\/revisions"}],"predecessor-version":[{"id":329352,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329350\/revisions\/329352"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}