Tuesday 21 August
Powered by Ajaxy
Jan 25, 2018 @ 10:31

RLC prices rights offer at P18.20 per share

 

Robinsons Land Corp. has firmed up a P20 billion rights offering at a price of P18.20 each share.

The right offering was priced at a discount of 16 percent based on the 45-day volume weighted average price of RLC shares as of Jan. 24.

The company is offering up to 1.1 billion shares, proceeds of which will be used to fund the acquisition of land in various parts of the country.

Each shareholder is entitled to subscribe to one share for every 3.71217 existing common shares held as of record of Jan. 31, 2018.

Documents earlier filed with the stock exchange showed that the offering is slated to run from Feb. 2 to 8 while the listing of the shares has been set on Feb. 15.

BPI Capital Corp. is the sole issue manager, book runner and underwriter of the offering.

RLC’s parent firm JG Summit Holdings Inc. has committed to purchase not just its rights entitlements but any unsubscribed portion as well.

Tags: , , , , , ,

Related Stories
Robinsons Land Corp. now owns and operates 50 shopping malls with the opening of Robinsons
Conglomerates
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.