GT Capital, shareholder in up to $314-M share offer

Reuters

Posted at Jan 09 2013 06:11 PM | Updated as of Jan 10 2013 02:11 AM

HONG KONG - GT Capital Holdings Inc, the flagship of Philippine banking tycoon George Ty, and one of its shareholders launched an up to $314 million share offering on Wednesday, IFR reported, citing a term sheet of the transaction. 

GT Capital is offering 16.3 million new shares in a primary offering through a so-called top up placement, while shareholder Grand Titan Capital Holdings is offering another 4.08 million shares, added IFR, a Thomson Reuters publication. 

The stock is being offered in a range of P610-P630 equivalent to a discount of up to 9.2 percent to Wednesday's close of P672.