PRIME Metroline Holdings Inc., the holding company of Enrique K. Razon Jr., chairman and controlling shareholder of Bloomberry Resorts Corp., sold 350 million shares representing 3.18 percent of his stake in the company in an overnight placement.
Prime Metroline remains the largest shareholder, with 65.58 percent of the company’s shares outstanding post this transaction.
The shares were sold at P10.85 per share, equivalent to approximately P3.8 billion.
The shares were placed to international institutional investors at an eight percent discount to the VWAP on Monday.
Goldman Sachs (Singapore) Pte. was the sole placement agent for the transaction. (PSE)