Philippines’ Ayala nets $356m in top-up placement
Philippines’ Ayala Land raised Ps16bn ($356.2m) through a top-up placement of shares on the evening of Friday, January 9, in what is the first sizeable block trade executed in the new year. Driven by reverse enquiry from investors, the deal saw strong demand from the market soon after books opened with shares holding up reasonably well in secondary trading.
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