Saturday 23 February
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.

Please follow and like us:

Tags: , , , , , ,

Related Stories
Robinsons Land Corp. has set up a new company that will undertake future real estate
Robinsons Land Corp. (RLC) has jumped into the growing business of flexible workspace.
Robinsons Land Corp., the property arm of taipan John Gokongwei’s JG Summit Holdings Inc., is
Taipan John Gokongwei's Robinsons Land Corp. has entered into a partnership with Frabelle Fishing Corp.


 

Trending News

Recommended on sister sites

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.