Trans-Asia raises P1.63B from stock rights offering
By Amy R. RemoPhinma-led Trans-Asia Oil and Energy Development Corp. was able to raise P1.63 billion from the stock rights offering it concluded last week.
Phinma-led Trans-Asia Oil and Energy Development Corp. was able to raise P1.63 billion from the stock rights offering it concluded last week.
Tycoon Andrew Tan-led Megaworld Corp. has committed to provide financial muscle to a P2.6-billion stock rights offering by its subsidiary Empire East Land Holdings Inc. (ELI), the unit tapped for a residential property venture with the Okada group in Pagcor City.
Banco de Oro Unibank has completed a landmark $1-billion stock rights offering that will double its core or tier 1 capital, positioning tycoon Henry Sy’s banking arm for further growth amid a regime of more stringent capital adequacy requirements.
BDO Unibank Inc. has secured the go-ahead for its $1-billion stock rights offering as the company bolsters its capital base in preparation for its aggressive expansion.
The local stock index slumped sharply on Tuesday, weighed down by tycoon Henry Sy-led companies after the group’s banking arm Banco de Oro announced a hefty $1-billion stock rights offering.
The board of directors of the Phinma-led Trans-Asia Oil and Energy Development Corp. approved on Monday an increase in the company’s authorized capital stock to P8.4 billion from P4.2 billion.
The Philippine Stock Exchange has approved a P272-million stock rights offering by Alliance Select Foods International Inc., which is raising fresh equity to acquire Massachusetts-based salmon smoking and curing firm Spence & Co. Ltd.
