Premium Leisure equity deal is belle of the ball

Henry Sy's Belle Corp completes equity offering for Premium Leisure Corp ahead of the opening of its flagship project, City of Dreams, in November.

Premium Leisure equity deal is belle of the ball

A 3.26 billion secondary share offering for Premium Leisure Corp was priced during the weekend at Ps1.65 per share, raising Ps5.38 billion $120 million for its parent Belle Corporation. The issue price represented a 10.4% discount to the stock's Ps1.84 close on September 18 when it was suspended and changed its name from Sinophil.

About 30 investors participated in a deal that, as expected, had a very strong domestic flavour. About 80% of the paper...

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