The Government Service Insurance System (GSIS) has raised its stake in Megawide Construction Corp. to 9.5% after acquiring 111.94 million shares through a series of block transactions.
The acquisitions increased GSIS’ holdings to 191.71 million common shares, making the state pension fund one of Megawide’s largest local institutional shareholders.
“The investment of GSIS reflects another vote of confidence in our vision of engineering a First-World Philippines, particularly through our participation in various government-initiated campaigns and public-private partnerships that aim to address critical social and transport infrastructure in the country,” Megawide chairman and CEO Edgar Saavedra said.
The investment comes after state-run Pag-IBIG Fund partnered with Megawide in September 2025 to build more than 7,000 socialized housing units under the government’s expanded 4PH housing program.
Megawide reported a 24% year-on-year increase in first-quarter net income to ₱265 million. The company also said it reduced its short-term obligations by about ₱7 billion.
Earlier this month, Megawide declared a cash dividend of ₱1.45 per share, payable on Aug. 7 to shareholders of record as of July 23.
