8990 Holdings, Inc. (HOUSE) is a leading property developer in the country, serving the lower-middle classes by making available to them houses that are affordable, on easy terms. What sets 8990 apart is their pre-cast fabrication technology that allows them to build high quality houses quickly and at low cost. Security Bank first met 8990 in late- 2012 when SB Capital helped them in structuring a securitization of their receivables. Since then, 8990 was introduced to other units of Security Bank and the relationship evolved from there.

In May 2014, Security Bank helped the company with its Php9.0-billion follow-on offering (FOO) through SB Capital. The FOO was oversubscribed by 2.5x in view of strong institutional demand. SB Equities played a large supporting role by placing and crossing shares while Security Bank’s branch network sold shares to clients.

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Issue Price: Php6.50
Closing Price at Issue Date: Php6.83
Issue Size: Php8,966,734,920.00
Shares: 1,379,497,680.00
Offer Period: May 2-8, 2014
Issue Date: May 14, 2014
1-day Return (after Issue Date): 1.54%
Minimum Subscription: 100 shares
Denomination: 100 shares
Role: Joint Domestic Lead Underwriter and Bookrunner

Stock Performance