Placement in Lucio Co’s restructured holding company raises $397 million

The Cosco Capital deal, which is accompanied by a substantial asset injection, attracts close to 50 investors despite a challenging market backdrop.

Placement in Lucio Co’s restructured holding company raises $397 million

Cosco Capital, the newly created holding company for a group of assets controlled by Philippine businessman Lucio Co including a 51% stake in listed supermarket chain Puregold Price Club, has raised Ps16.8 billion $397 million from a combined follow-on and sell-down.

The deal, which was completed as stock markets across the region had another tough day yesterday, will ensure that Cosco retains a free-float of close to 30% following the simultaneous injection of four new...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...