SM Prime Holdings (SMPH), the Philippines’ biggest mall operator, has launched a placement of treasury shares that could raise up to $318 million, IFR reported on Wednesday.
Around 800 million treasury shares were being sold in the range of PHP 17.00-PHP 17.88 per share, said IFR, a Thomson Reuters unit.
At the top end of the price range, the sale could raise as much as PHP 14.3 billion ($318 million). The price range represents a discount of up to 4.9% to Wednesday’s closing price of PHP 17.88.
JP Morgan and Macquarie are the joint bookrunners, IFR said.