SM Prime launches $318 million share placement

27 Nov

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.

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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.

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Posted by on November 27, 2014 in Corporate News, SMPH, Stock Market


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