Type Public Industry Construction Headquarters Philippines | Traded as PSE: MWIDE Website www.megawide.com.ph Founded 1997 | |
Key people Michael Cosiquien (Chairman & CEO)
Edgar Saavedra (President & COO) Products Commercial and infrastructure developments Parent organization Citicore Investments Holdings Inc Founders Michael Cosiquien, Edgar Saavedra Subsidiaries GMR-Megawide Cebu Airport Corporation, Citicore Power Inc., Altria East Land, Inc., Megawatt Clean Energy, Inc. | ||
Megawide Construction Corporation (PSE: MWIDE) is a publicly listed construction company founded in 1997 by Engr. Edgar Saavedra and Engr. Michael Cosiquien and became incorporated in 2004. It has completed numerous low-rise and high-rise condominiums and industrial buildings, including the Antel Spa Residences, Citysquare Residences, Bellevue Hotel, Hotel Kimberly Tagaytay, Millenia Tower and Parcvue Hotel. As of February 19, 2011, Megawide Construction Corporation has a total market capitalization of P6.7 billion and share price of P7.84.
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Company profile
Megawide Construction Corporation was incorporated in 2004 to engage in general construction which involves site development, earthworks, structural and civil works, masonry works, architectural finishes, electrical works, plumbing and sanitary works, fire protection works and mechanical works.
To date, Megawide has put up approximately 48 low-rise to high-rise condominiums and industrial buildings. Moreover, the company continues to grow and now has booked construction contracts worth Php 20.66 billion.
Future plans
The company also aims to construct a pre-cast concrete manufacturing complex in Taytay, Rizal, allowing it to engage in mid-rise buildings and socialized housing, offer pre-cast concrete products, expand domestic and regional coverage, and engage in road and mass transportation infrastructure projects.
Initial Public Offering
Megawide Construction Corporation went public on February 18, 2011 with an initial public offering price of P7.84 per share. It was the first company to go public in 2011 and is traded under the stock symbol MWIDE. The IPO run from February 7 to 11 and was able to raise nearly P2.3 billion in fresh funds for the company.
Finished
On-Going
Other business development
In February 2011, Henry Sy disclosed that it was set to acquire 20% of Megawide Construction. Through its privately held businesses, Sy had made a firm commitment to buy a big block of the shares to be sold through its IPO. The 20% is equivalent to P1.37 billion.