Suntrust Home Developers Inc (PSE:SUN) is seeking acquisitions. Suntrust Home Developers is undertaking a rights offer to raise PHP 20 billion in additional capital to fund the acquisition of more properties for its real estate business expansion. Ferdinand B. Masi, President of Suntrust Home Developers, said that proceeds of the rights offer, however, would be used primarily to finance acquisition of properties.

Ferdinand added that Suntrust is currently considering several properties for acquisition as it plans to further engage in real estate development.