SEC Approves Globe Telecom’s PHP 25 billion Preferred Share Offer

Globe Telecom Inc. has received regulatory approval from the Securities and Exchange Commission (SEC) to raise up to PHP 25 billion through the sale of preferred shares.

The offer consists of a PHP 15 billion base amount, representing 7.5 million shares. It also includes an additional PHP 10 billion set aside for an oversubscription option of five million shares.

The company describes the shares as cumulative, non-voting, and non-convertible redeemable perpetual preferred shares.

Globe plans to release the offer in two tranches. The first dividend rates set at 6.1179% per annum for Series A. The other will be at 6.7631% for Series B.

The offer period ends on 20 February 2026. The official issuance and listing on the Philippine Stock Exchange is scheduled for 2 March 2026.

The Ayala-led telecommunications provider intends to use the proceeds to fund capital expenditures.

Globe has maintained a capital expenditure guidance of below US$1 billion for 2026, consistent with its 2025 spending levels.

Despite a move towards cutting costs, the company remains focused on network expansion and product development within a saturated connectivity market.

While Globe’s net income fell by 4% to PHP 23.26 billion in 2025 due to flat revenue, the company expressed confidence in its growth prospects.

The expansion of Globe’s service portfolio and the market presence of its e-wallet arm, GCash, drive this optimism.

BPI Capital, BDO Capital, and China Bank Capital are managing the issue.

Featured image: Edited by Fintech News Philippines based on an image by Freepik.

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