Metro Pacific raises $200m from top-up

Metro Pacific takes advantage of a rising Manila stock market to raise capital via a share placement.

Metro Pacific Holdings raised $200 million by selling shares on Monday as it became the latest Philippine company to take advantage of the Manila stock market's sizzling start to the year.

The accelerated top-up offering comprised 1.8 billion shares in listed subsidiary Metro Pacific Investment Corp. priced at Ps4.90 per unit, towards the lower end of the indicative price range of Ps4.85 to Ps5.10 per unit, according to a term sheet seen by FinanceAsia.

The shares in Metro Pacific Investment Corp -- a company with a range of utility, real estate, and healthcare interests -- were priced at a 6.5%...

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