two-more-philippine-deals-draw-strong-demand

Two more Philippine deals draw strong demand

Residential developer Vista is set to raise at least $445 million from its equity offering, while TV broadcaster GMA Networks will take home $170 million.

The demand for equity from the Philippines is showing no signs of slowing down with two more companies completing the international portions of their first ever share sales on Friday and Saturday, which makes them set to raise a combined $635 million.

Vista Land and Lifescapes, the country’s largest residential home builder, will pocket most of that with its base deal size of Ps21.28 billion $465 million. The offer, which is technically a follow-on since the company listed through an introduction last month, will be the second largest equity deal in the Philippines, surpassing the $445 million raised by Alliance Global Group in June.

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