GSIS becomes major Megawide investor with 9.5% stake

The Government Service Insurance System (GSIS) has increased its stake in Megawide Construction Corp. to 9.5% after acquiring 111.94 million common shares through block transactions, according to a report by BusinessWorld. The acquisition raises GSIS’ holdings to 191.71 million common shares, making the state pension fund one of the listed engineering and construction firm’s largest local institutional investors.

Megawide is a major player in the Philippine infrastructure sector, with projects spanning airports, railways, and buildings. GSIS, which manages the pension fund of government employees, has been increasing its exposure to domestic equities as part of its investment strategy.

The move signals continued confidence in Megawide’s growth prospects amid the government’s infrastructure push. GSIS joins other institutional investors that have recently taken significant positions in the company.