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...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

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

Print Edition

FinanceAsia Print Edition