GOKONGWEI-LED Robinsons Land Corp. (RLC) said Friday that it had completed an overnight block placement of some 319 million common shares in RL Commercial REIT Inc. (RCR) at P5.86 apiece for an aggregate gross of about P1.87 billion.
GOKONGWEI-LED Robinsons Land Corp. said Friday that it had completed an overnight block placement of some 319 million common shares in RL Commercial REIT Inc. at P5.86 apiece for an aggregate gross of about P1.87 billion.RLC told the stock exchange that the transaction 'was anchored by high-quality long-only institutional investors.'The company said that proceeds from the block sale would be settled on Oct. 22, 2024, under the placement agreement.
6 billion shares.In April, RLC also raised P8.49 billion from a block placement of about 1.73 billion RCR shares at a price of P4.92 apiece. RLC has said the transaction would enable RCR 'to acquire accretive assets from RLC's diverse pipeline of investment properties.'Last month, RCR received regulatory approval for the valuation of P33.9 billion worth of properties under its property-for-share swap with RLC.
Land Raises P1.9B From Block Sale
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