GSIS increases Megawide stake to 9.5%

The Philippines — Government Service Insurance System (GSIS), a state-run pension fund in the Philippines, acquired 111.94 million common shares of Megawide through a series of block transactions, raising its stake to 9.5% and becoming one of the company's major local institutional investors. Megawide Chairman and CEO Edgar Saavedra said the investment reflects confidence in the company's participation in government infrastructure and housing projects, including the expanded 4PH socialized housing program and transport-centric developments. The acquisition follows a partnership between Megawide and Philippines — Pag-IBIG Fund in September 2025 to build over 7,000 socialized housing units. Megawide reported a 24% increase in first-quarter net income to P265 million, reduced short-term debt by about P7 billion, and declared cash dividends of P0.145 per share payable on August 7, 2026.