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Elijah Felice Rosales - The Philippine Star
February 14, 2026 | 12:00am
In a disclosure to the Philippine Stock Exchange, Globe said it has received permission to offer the shares from the Securities and Exchange Commission.
STAR / File
MANILA, Philippines — Globe Telecom Inc. has obtained regulatory approval to raise fresh funds for expansion efforts by selling up to P25 billion worth of preferred shares to the public.
In a disclosure to the Philippine Stock Exchange, Globe said it has received permission to offer the shares from the Securities and Exchange Commission.
The certificate covers the offer, issuance and listing of preferred shares amounting to P25 billion, made up of P15 billion in base amount and P10 billion for oversubscription option.
The P15-billion base amount comprises 7.5 million in cumulative, non-voting, non-participating, non-convertible, redeemable and reissuable perpetual preferred shares. Globe is also ready to sell an additional five million preferred shares for P10 billion in case of oversubscription.
The offer will be in two tranches. Globe assigned a dividend rate of 6.1179 percent per annum for the initial Series A non-voting preferred shares and 6.7631 percent per annum for the subsequent Series B non-voting preferred shares.
Globe is offering the shares until Feb. 20 and is scheduled to issue and list them on March 2.
“Prospective investors should review the prospectus and offer supplement and consult with their respective tax and other advisors when considering an investment in the first tranche series,” the telco said.
BPI Capital Corp., BDO Capital and Investment Corp. and China Bank Capital Corp. are the joint lead issue managers.
They are joined by First Metro Investment Corp. and Security Bank Capital Investment Corp. as joint underwriters and bookrunners. East West Banking Corp., Land Bank of the Philippines and trading participants in the PSE were tapped as selling agents.
Globe is allocating part of the proceeds for capital expenditures. The Ayala-led telco provider is allocating below $1 billion for capex this year, keeping the same guidance it had for 2025.
Although the telco is starting to cut spending, it is still pursuing network expansion and product development to grow its subscriber base in a saturating market for connectivity services.
Globe’s net income declined by four percent to P23.26 billion in 2025 on flat performance from revenue drivers, but the company is confident of returning to growth mode with the expansion of its portfolio and the dominance of e-wallet arm GCash.
