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
Universal Robina is the leading branded convenience food and beverage company in the Philippines

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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