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Philippines GT Capital, shareholder in up to $314 mln share offer -IFR
January 9, 2013 / 8:47 AM / 5 years ago

Philippines GT Capital, shareholder in up to $314 mln share offer -IFR

HONG KONG, Jan 9 (Reuters) - 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 610-630 pesos, equivalent to a discount of up to 9.2 percent to Wednesday’s close of 672 pesos. (Reporting by Daniel Stanton and Jing Song of IFR; Writing by Elzio Barreto; Editing by Daniel Magnowski)

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