However, the offer is part of a trend that began in 2005 and which has seen several Manila-listed companies launch what is effectively a ôre-IPOö to boost their free-float and increase the international ownership of their stock.
The sale will comprise 6.21 billion shares, including a greenshoe of 810 million shares, and will increase FilinvestÆs freefloat to 30.8% from the present 13.3%. The shares will be offered at a discount of up to 8% to the volume-weighted average price in the 10...
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