Business World Online
Posted on June 09, 2011 10:36:58 PM
LISTED ALSONS Consolidated Resources Corp. will sell P7.5 billion worth of existing shares to fund its power projects, the company disclosed to the bourse yesterday.
The board of Alsons Consolidated approved a placement and subscription transaction “worth approximately $175 million or a Philippine current equivalent of P7.5 billion.”
The number of shares and final selling price, however, are yet to be determined by the appointed book runner CLSA Ltd. Under the current market price of P1.44 a piece of Alsons Consolidated, P7.5 billion worth of shares amount to around five billion shares. Major shareholders Alsons Corp. and Alsons Development & Investment Corp. will offer to sell a portion of their shares for the transaction. -- E. N. J. David
The number of shares and final selling price, however, are yet to be determined by the appointed book runner CLSA Ltd. Under the current market price of P1.44 a piece of Alsons Consolidated, P7.5 billion worth of shares amount to around five billion shares. Major shareholders Alsons Corp. and Alsons Development & Investment Corp. will offer to sell a portion of their shares for the transaction. -- E. N. J. David
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