Ayala Corporation, the Philippines-based conglomerate, disclosed on Monday that a successful private placement was made by its real estate arm Ayala Land Inc (ALI), through which the realty firm raised $356 million (P16 billion).
Ayala assisted its real estate unit in raising funds through a placement of 484,848,500 common shares at a price of P33.00 per share. The placement was conducted via book-building offering, structured as a top-up placement with all the proceeds to be received by ALI.
