ANCHOR Land Holdings Inc., a listed real estate developer, has decided to extend the offer period for its rights issuance citing “numerous” requests from shareholders.

In a filing to the Philippine Stock Exchange on Thursday, Anchor Land said the new offer schedule will run from September 26 until noon of October 14. The offer is available to shareholders on record as of September 15.

Anchor Land said earlier that it is offering one preferred share priced at P1 each for every one common share held by stockholders. The company said the fund-raising move will be partly supported by the increase in authorized capital stock from P1 billion to P3.6 billion.

Anchor Land said holders of preferred shares will still have voting rights and will receive a fixed cumulative annual dividend rate of 8 percent. 

The builder, whose projects are mostly focused within the Chinatown district in Manila, said profits in the six months to June rose 40 percent to P350 million. Revenues during the period also hit P1.22 billion. Projects include the 39-story Wharton Parksuites and the 56- story Anchor Skysuites. The builder also credited growth from its SoleMare Parksuites at the Aseana Business Park in Parañaque City.

Shares of Anchor Land, which is partly owned by billionaire Henry Sy, did not move at P20 each on Thursday’s trading.