Metro Pacific pockets $150 million from sale of new shares

The deal attracts good interest from existing shareholders and domestic investors and is upsized by 50%.

Metro Pacific pockets $150 million from sale of new shares
Manny Pangilinan, chairman of Metro Pacific

Metro Pacific Investment Corp, the Philippine infrastructure investment company, last night raised Ps6.12 billion about $150 million from a top-up placement following a solid run in its share price since the beginning of the year.

The company has had a good following among investors since 2006 when it started to transform itself from an uninspiring property holding company to become the country’s only pure infrastructure play with interests ranging from water and electricity to toll...

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