Universal Robina raises $173 million from placement

The deal, which consists of treasury shares, is upsized by 20% and prices at the mid-point for a 4.8% discount.

Universal Robina raises $173 million from placement

Philippine food and beverage company Universal Robina Corp last night raised Ps7.44 billion $173 million from the sale of part of the treasury stock held on its books. The deal, which was the first block trade in Asia since mid-May, attracted a lot of interest from international funds, allowing the upsize option to be exercised in full and the price to be fixed at the mid-point of the range.

Asian markets have remained sluggish this...

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