GT sell-down bags $172m as SM Prime moots $1bn Reit

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By John Loh, Jonathan Breen
11 Aug 2016

A secondary share sale in Filipino conglomerate GT Capital Holdings fetched Ps8.03bn ($172.14m) on Wednesday, with a shareholder cashing in just as the stock vaulted to a record high.

Sole lead UBS launched the up to Ps8.22bn sell-down for Grand Titan Capital before 5pm, offering 5.22m shares at Ps1,520-Ps1,575 each, or a 2.78%-6.17% discount to the pre-deal spot of Ps1,620.

GT is the main holding company for the Ty family’s varied interests in banking, insurance, energy and property ...

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