Century Properties Inc. released fresh details on its acquisition of listed East Asia Power Resources Corp., saying it plans to use the firm to pursue investments in “property development and management”, giving credence to market speculation that the Antonio-led Century may take assets public using the so-called back door listing rule.

Century Properties included the plan on its proposal to make a tender offer to acquire the remaining 6.417 percent of East Asia Power that it does not yet own.

Century Properties has offered to pay 4 centavos each for the 228.11 million shares held by minority stockholders, with the tender offer period to commence on June 3 and will end on July 11.

East Asia Power shares jumped another 25 percent to P0.65 each on Thursday. Shares of the company have more than doubled in value in the last three trading sessions.

It was announced early this week that Century Properties is taking a majority stake in EPHE Philippines Energy Co.  Inc., a firm that owns 91.7 percent of East Asia Power’s outstanding shares.

Those shares, along with another 1.88 percent acquired from the public, were bought at 3.8 centavos each, the report showed on Thursday.

Century Properties said it plans to use East Asia Power as a vehicle to pursue real estate investments.

“In the pursuit of investment opportunities in property development and property management, [ East Asia Power]  may change its corporate name, number of directors, structure and principal business, to the extent necessary,” Century Properties said.

Century Properties is currently developing Century City, a 3.4 hectare mixed-use complex in Makati City.

The company’s portfolio covers 63 buildings under management and development as well as current projects with over 42 million square feet; and more than 10,000 residential, office and commercial units, according to information posted on its website.