filinvest-aims-to-boost-freefloat

Filinvest aims to boost freefloat

Property developer joins "re-IPO" trend among Philippine companies with $215 million share sale.
Property developer Filinvest Land on Monday kicked off the roadshow for a secondary share sale of about $215 million, making it the first Filipino company to tap the international ECM market this year.

However, the offer is part of a trend that began in 2005 and which has seen several Manila-listed companies launch what is effectively a ôre-IPOö to boost their free-float and increase the international ownership of their stock.

The sale will comprise 6.21 billion shares, including a greenshoe of 810 million shares, and will increase FilinvestÆs freefloat to 30.8% from the present 13.3%. The shares will be offered at a discount of up to 8% to the volume-weighted average price in the 10...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222