Widening the circle: EKR sells P3.8B Bloomberry shares
Bilyonaryo Enrique K. Razon Jr. has unloaded three percent of his shareholdings in Bloomberry Resorts Corp. to international institutional investors, raising P3.8 billion from the overnight placement deal.
In a stock exchange filing, Bloomberry said Razon, its chairman and controlling shareholder, sold 350 million shares, representing 3.18 percent of the company, at P10.85 each in a private placement deal arranged by Goldman Sachs (Singapore).
The shares were priced at an eight percent discount to the company’s volume weighted average price Monday.
The deal leaves Razon’s Prime Metroline Holdings with a majority stake in Bloomberry equivalent to 65.58 percent of the company’s shares.
Razon said the transaction was aimed at widening the public ownership of Bloomberry, the operator of Solaire Resort & Casino.
“I am very confident of the prospects for Bloomberry. I believe that the increased liquidity in the stock will be beneficial for investors and the company.” Razon said.