Metro Pacific raises $256m from Meralco block

Philippine conglomerate moves early to sell 4.5% stake in the country’s biggest power supplier. The deal's unique structure will see it restore nearly all of the stake later.
June 14, 2017

Infrastructure-to-real estate conglomerate Metro Pacific Investments raised P12.7 billion ($256 million) from a placement of shares in Manila Electric (Meralco) through an overnight block sale on Tuesday.

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