Robinsons Land prices liquidity-boosting follow-on at 7.7% discount

The $194 million deal is 2.2 times covered with US investors taking up 44% of the shares.

Philippine property developer Robinsons Land RLC has priced its follow-on share offering at Ps12 per share for a 7.7% discount versus FridayƆs closing price, which resulted in a pre-greenshoe deal size of $194 million.

Investors were reasonably keen on the UBS-led deal which was aimed at increasing the free-float to about 40% from 7% to make the developer more attractive and accessible to international investors. The real estate unit of Gokongwei-led JG Summit Holdings hopes that the transaction will...

To continue reading, please login or register for free

Click for more on: followon | property | freefloat | gokongwei | ubs | atr kim eng

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 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 ...