Placements in GT Capital and Shin Corp raise a combined $1 billion

Philippine conglomerate GT Capital and its controlling shareholder sell $350 million worth of shares, while a Temasek-controlled entity raises $685 million from its third sell-down in Thailand’s Shin Corp.

Placements have been a key theme this week with several deals out of Hong Kong, and yesterday Southeast Asia joined the action as well with two large transactions that together raised $1 billion. The deals were well received and confirmed that investors are keen to add more risk to their portfolios.

Philippine conglomerate GT Capital was first out with a combined primary share follow-on and sell-down by the controlling shareholder, which hit the market at about 4pm Hong Kong time. After being upsized by close to 13% to facilitate the allocations, the deal size was fixed at Ps14.24 billion $350 million.

Three hours later, Temasek-controlled...

¬ Haymarket Media Limited. All rights reserved.

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 subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222