Megawide Construction Corporation 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.
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.
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.
Projects
Finished
Azotea de Bel-Air by Alfonso-Saquitan Realty Corporation
Residencia de Regina by Banff Realty and Development Corporation
Hampton Gardens Tower E by Dynamic Realty and Resources Corporation
Chateau Valenzuela by Globe Asiatique Realty Holdings Corporation
Millenia Tower by Goldland Properties and Development Corporation
Sure Shot Sports Complex by Hyco Laboratories Company, Inc.
City Square Residences by Kepelland Realty, Inc.
Malate Crown Plaza by Malate Royale Development Corporation
University Tower by Prince Jun Development Corporation
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.
