GSIS raises stake in Megawide to 9.5% after buying 111.9 million shares

The Government Service Insurance System (GSIS) has increased its stake in Saavadera-led contractor giant Megawide Construction Corporation.

In a disclosure to the Philippine Stock Exchange on Wednesday, Megawide said GSIS acquired a total of 111,941,350 shares in the company following a series of block transactions.

Resulting from the latest acquisition, the state workers’ pension fund now owns 191,711,295 common shares or 9.5%% of Megawide, becoming one of the major local institutional investors in the company.

“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,” said Edgar Saavedra, Megawide’s chairman and CEO.

“Specifically, this includes our participation in the construction of socialized housing units under the expanded 4PH program using mechanized and modernized techniques anchored on the precast system. In addition, we are also rolling out several transport-centric developments or TCDs that will modernize and organize public transport systems in the country, with the objective of enhancing safe and efficient travel and commuting,” he added.

Last September 2025, state-owned Pag-IBIG Fund, through the endorsement of the Department of Socialized Housing and Urban Development (DSHUD), entered into a partnership with Megawide for the construction of more than 7,000 socialized housing units under the government’s expanded 4PH program.

Megawide said GSIS’s investment reflects the government’s support for the company’s “nation-building initiatives and value-creation objectives.”

In the first three months of 2026, the company posted a 24% net income growth amounting to P265 million.

The company added that it reduced its short-term obligations by around P7 billion during the same period. –NB, GMA News