Century Properties Group (PSE:CPG) sold 740.7 million shares to the Social Security System via a 500 million Philippine pesos block sale, making the latter a strategic investor with a 6.39% stake in the company.
The shares were sold at a 4.93% discount, offering Social Security System an estimated 7.8% dividend yield and upside potential, according to a Friday Philippine Exchange filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.