CPG welcomes SSS as anchor investor

MANILA, Philippines — Century Properties Group Inc. (CPG) of the Antonio family has welcomed the Social Security System (SSS) as an anchor investor following the latter’s acquisition of a 6.39-percent stake in the company.

“We are honored to have the SSS as an anchor investor in Century Properties Group. Both CPG and SSS share a long-term perspective and remain optimistic about the growth prospects of CPG,” CPG executive chairman Jose E.B. Antonio said.

CPG’s majority shareholder Century Properties Inc. has sold 740.74 million common shares to SSS at P500 million through a block sale.

SSS acquired the shares at a 4.93-percent discount to CPG’s current market price and is expected to get a dividend yield of approximately 7.8 percent plus potential capital appreciation.

Antonio said the collaboration reinforces their shared vision for sustainable growth and value creation.

“We are committed to ensuring this partnership translates into tangible benefits for the SSS fund,” he said.

China Bank Capital Corp. acted as the advisor and arranger for the transaction

“We are very pleased that SSS found a compelling investment opportunity in CPG. The market is taking notice of the company’s strong fundamentals and growth prospects,and we are confident that management will continue to create value for all CPG shareholders,” Chinabank Capital president Ryan Martin Tapia said.

Chinabank Capital managing director Juan Paolo Colet said the transaction is a good move for SSS.

“At their purchase price of P0.675, the current dividend yield is 7.8 percent, which is among the highest for listed property developers,” Colet said.