Robinsons Land eyes P20 billion in stock rights offer

Warren de Guzman, ABS-CBN News

Posted at Nov 24 2017 11:31 AM

MANILA - Robinsons Land Corp said Friday it planned to raise up to P20 billion in a stock rights offer to help finance land acquisitions.The company said it would issue 950 million to 1.1 billion shares. Existing shareholders can avail of 1 share per 3.6 to 4.3 shares held.

The stock rights offer was approved in principle by Robinsons Land's board of directors on Nov. 13, the company said.

Robinsons Land shares were down 3.25 percent to P23.80 in early trading, while the main index was down 0.63 percent.