Tuesday 16 October
Powered by Ajaxy
Nov 24, 2017 @ 11:41

Robinsons Land plans P20B rights offer to fund aggressive growth plans


The property arm of the Gokongwei family’s JG Summit Holdings Inc. is looking to raise up to P20 billion from a stock rights offering to beef up its land bank.

In a stock exchange filing, Robinsons Land Corp. said its board approved a rights offering of 950 million to 1.1 billion shares to stockholders at a ratio of one rights share for every 3.6 to 4.3 common shares held.

The record date and the offering price have yet to be firmed up by management.

RLC intends to use majority of the net proceeds to finance the acquisition of land throughout the country for all its business segments.

The stock is currently trading at P23.55, lower than Thursday’s close of P24.60 each share.

Please follow and like us:

Tags: , , , , ,

Related Stories
Robinsons Land Corp. now owns and operates 50 shopping malls with the opening of Robinsons
It really pays to be the sole gatekeeper of President Rodrigo Duterte’s phone and schedule.
JG Summit Holdings has earmarked P78.1 billion for capital spending this year, mostly to ramp


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.