Robinsons Land completes P20B share sale | Inquirer Business
Close  

Robinsons Land completes P20B share sale

/ 12:33 PM February 13, 2018

Robinsons Butuan

Gokongwei-led property developer Robinsons Land Corp. has completed a P20-billion fund-raising from the sale of new shares to existing investors, proceeds from which will boost its war chest for business expansion.

Based on a recent disclosure to the Philippine Stock Exchange, RLC was able to sell the entire 1.1 billion new shares that it was authorized to offer to eligible investors.

ADVERTISEMENT

Some 1.07 billion shares were initially sold during the first round of offering that targeted eligible shareholders while additional 25.99 million shares were sold to meet oversubscription demand.

Eligible shareholders were given the right to buy one new share for every 3.7212 common shares held at a price per share of P18.20.

FEATURED STORIES

BPI Capital Corp. acted as sole issue manager, bookrunner and underwriter for this offering, which was supported by RLC’s parent conglomerate JG Summit Holdings.

Proceeds from the equity deal will be used to finance the acquisition of land located in various parts of the country for all of the company’s business segments.

RLC’s investment portfolio – which includes its shopping malls, office and hotel businesses – accounts for a lion’s share of its revenues and cash flow. To date, it has 44 shopping malls, making it one of the leading shopping mall developers in the country.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: RLC, Robinsons Land Corp, stock rights offer
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.