Block trade in International Container Terminal raises $83 million

An unnamed corporate vendor sells its entire 2.6% stake in the Philippine company through a well-anchored deal.
<div style="text-align: left;"> ICTSI is a major operator of container ports around the world </div>
<div style="text-align: left;"> ICTSI is a major operator of container ports around the world </div>
October 15, 2012

An undisclosed corporate shareholder of International Container Terminal Services ICTSI has raised Ps3.46 billion $83 million from the sale of its entire 2.6% stake in the Philippine company.

The sale, which was completed after the close of trading on Friday, saw good support from other existing shareholders and was priced at the mid-point of the range for a 5.2% discount to the latest close.

With the Philippine stock market trading at record levels, it is no surprise to see shareholders in Philippine companies join the trend of block trades that have been dominating equity capital markets activity in the region so far this year. The Philippines is...

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