Robinsons Land (PSE:RLC) authorized the sale of 1.04 billion shares of RL Commercial REIT at 5.95 Philippine pesos per share, totaling 6.21 billion pesos.
The placement was anchored by high-quality institutional investors, according to a Friday Philippine bourse filing.
Proceeds from the block sale shall be settled on April 8, the property developer said.
BPI Capital acted as the placement agent, bookrunner, and underwriter for the deal.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.