<article>Philippines company <a href="http://www.gtcapital.com.ph/home/%20">GT Capital Holdings Inc</a> (GTCAP), a listed holding company in the Philippines, announced Tuesday, that it had raised P9.848 billion ($222.9 million) through an  overnight share sale by major equity holders of the company.</article>

Philippines company <a href="http://www.gtcapital.com.ph/home/%20">GT Capital Holdings Inc</a> (GTCAP), a listed holding company in the Philippines, announced Tuesday, that it had raised P9.848 billion ($222.9 million) through an  overnight share sale by major equity holders of the company.
GTCAP reported to the local stock exchange that its largest shareholders — Grand Titan Capital Holdings Inc and the family members of Filipino business tycoon George Ty or the Ty family — sold 8.715 million common shares to foreign and domestic institutional investors at P1,130.00 apiece.
This represents a 4.2 percent discount from Friday&#8217;s closing P1,180.00. and share sale is equivalent to 5 percent of GT Capital’s total outstanding.
Grand Titan is the private holding company representing the equity investments of the Ty family in GT Capital.
A total of 32 per cent of the total shares were acquired by domestic institutional investors, while foreign institutional investors got the 68 per cent balance.
Grand Titan and the Ty family together still hold majority of GT Capital&#8217;s shares at 54.31 per cent.
&#8220;Use of proceeds include Grand Titan&#8217;s participation in the recently announced Metropolitan Bank &amp; Trust Company stocks rights offer, among others. The sale was also in response to several reverse inquiries regarding additional GT Capital shares from investors,&#8221; GTCAP&#8217;s disclosure read.
Grand Titan had appointed Goldman Sachs as sole global coordinator and sole international bookrunner, while Metro Investment Corp served as sole domestic lead manager and domestic bookrunner.
Incorporated in 2007, GTCAP is the primary vehicle for the holding and management of the diversified business interests of the Ty family in the Philippines. The company holds interests in banking, real estate development, power generation, automotive assembly, importation and distribution, and life and non-life insurance.
Among GTCAP&#8217;s present portfolio of companies include <a style="color: #000080;" href="https://www.metrobank.com.ph%20">Metrobank</a>, <a style="color: #000080;" href="http://federalland.ph">Federal Land Inc</a>, <a style="color: #000080;" href="http://www.gbpc.com.ph%20">Global Business Power Corp</a>, <a href="www.toyota.com.ph%20">Toyota Motor Philippines</a>, <a href="www.axa.com.ph">Philippine AXA Life Insurance Corporation</a>, <a href="www.charterpingan.com">Charter Ping An Insurance Corp</a>, and <a href="http://www.toyotamanilabay.com.ph">Toyota Manila Bay Corp</a>.

GT Capital Holdings Inc., the listed holding company of business tycoon George Ty, said Tuesday it raised $222.9 million (P9.84 billion) though a share sale

PH co GT Capital raises $222m in block share sale

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PH co GT Capital raises $222m in block share sale

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