Philippine food and beverage company Universal Robina Corp last night raised Ps7.44 billion $173 million from the sale of part of the treasury stock held on its books. The deal, which was the first block trade in Asia since mid-May, attracted a lot of interest from international funds, allowing the upsize option to be exercised in full and the price to be fixed at the mid-point of the range.
Asian markets have remained sluggish this week, with some posting tentative gains against a backdrop of very thin volumes and others continuing to sell off. Weaker-than-expected retail sales data in the US overnight sales fell to their worst level in two...
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