The developer sold 318.9 million common shares of RCR at P5.86 per share, raising P1.87 billion. The shares were sold at a 5.5 percent discount from the previous session’s close.
This transaction increased RCR’s public float to 35.93 percent, creating more headroom for future asset injections into the real estate investment trust.
“The transaction was anchored by high-quality long-only institutional investors,” Robinsons Land said in a stock exchange filing on Friday.
The shares were sold under exemptions from registration under the Philippine Securities Regulation Code.
BPI Capital Corp. acted as the sole placement agent and bookrunner, with Picazo Buyco Tan Fider & Santos as transaction counsel.
