EEI Corp. has announced a plan to raise P4 billion through a private placement of Series E preferred shares.
The board approved the issuance of up to 40 million shares, each with a par value of 50 centavos, to be offered at P100 per share from the company’s authorized but unissued preferred shares.
Net proceeds will fund general corporate and working‑capital needs, finance recently awarded projects, and settle loan obligations.
First‑quarter results show attributable net income of P53.97 million, a sharp rise from P5.06 million a year earlier, driven by higher revenue and lower expenses.
Gross revenue increased 3.88% to P3.75 billion from P3.61 billion, while expenses fell 2.01% to P3.41 billion.
In March, the company secured P1.6 billion of real‑estate contracts in the first two months of 2026, bringing its order book closer to its target.
Newly awarded projects expand the company’s presence in residential and hospitality segments, including a 21‑storey residential tower and a mixed‑use development in Tierra Davao.
The company expects steady financial performance for the year, supported by a robust project pipeline.
During the third quarter of 2025, the pipeline reached P19.1 billion, with a total backlog of P39.24 billion as of August 2025.
EEI specializes in constructing power‑generating facilities, oil refineries, chemical plants, railways, ports, expressways, and high‑rise buildings; shares closed at P2, up 4.17%.
