Semirara Mining has cashed in on relaxations in the Philippines mining sector, raising its equity offer by 11.29 million shares to raise $68 million. The sale, which totals 105 million shares, is the first internationally placed equity offer of the year on the Philippines stock exchange.
The sale was initially planned as a solely international placement of 78.57 million shares, but, according to bankers on the deal, the stock exchange encouraged a placement to local retail investors. This came in the form of a secondary offer of 15.18 million shares from Semirara's parent, DMCI Holdings. After marketing the deal at P22-44 it was eventually priced at P36 and with an order...
