GT Capital is offering as much as 12 million perpetual favored stocks at P1,000 each. The stocks are categorised as cumulative, non-voting, non-collaborating, and non-convertible stocks.
The George Ty-led conglomerate might to begin with provide eight million stocks, and four million more shares in case of an oversubscription.
The base offer is expected to generate P7.Ninety four billion of internet proceeds, after deducting listing-associated expenses and taxes. If the offer is oversubscribed, the internet proceeds are expected at P11.92 billion.
“The agency expects to apply the internet proceeds from the offer … to refinance preceding acquisitions paid through bridge financing within the fourth region of 2016, and to fund strategic acquisitions,” GT Capital stated in a prospectus.
Finance sales blog 