SM Investments raises $150 million from top-up placement

The deal comes on the back of a strong rebound in the share price and is increased by 50% after attracting solid demand.

SM Investments raises $150 million from top-up placement
SMIC offers broad exposure to the domestic consumption story in the Philippines

Philippine conglomerate SM Investments Corp SMIC last night took advantage of a strong recovery in its share price to raise $150 million from a top-up placement.

In a reflection of a recent pick-up in investor risk appetite, the deal attracted solid demand and was upsized by 50% from an initial $100 million.

Bankers say they are trying to meet this renewed demand by bringing more placements and block trades to the market,...

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