Philippine Digest: Robinsons Land eyes $394m rights offer; Easycall to offer more shares

Visual from Robinsons Land Corp homepage

Robinsons Land Corporation, one of the major real estate companies in the Philippines, could raise up to Php20 billion in a stock rights offer while Easycall said it will raise its public offer to comply with new rules.

Robinsons Land seeks to raise Php20bn in stock rights offer

Listed real estate firm Robinsons Land Corporation plans to raise up to P20 billion, or about $394 million, in a stock rights offer, the company said in a disclosure on Thursday.

Robinsons Land has informed the Philippine Stock Exchange that it would issue 1.1 billion common shares at an offer price of Php18.20 per share.

Under the rights offer, each eligible shareholder of Robinsons Land is entitled to subscribe to one share for every 3.7217 existing shares held as of record date 31 January 2018.

Easycall to offer more shares to the public

IT and outsourcing firm Easycall Communications Philippines said it will offer more shares to the public in line with the new minimum ownership requirements set by the Securities and Exchange Commission (SEC).

In a disclosure to the Philippine Stock Exchange, Easycall said, TDG Ventures Inc, its majority shareholder, is aware that the SEC has already increased the minimum public ownership (MPO) for all companies undertaking an initial public offering to 20 percent effective late last year.

Easycall is one of the 68 listed companies the SEC said would have to raise their MPO as a result of the new requirement.

“In anticipation of this, TDG Ventures has expressed its intent to reduce some of its shareholdings through the market in support of Easycall’s compliance to the MPO that the SEC may impose,” the company disclosed.

Easycall’s shares were down 9.04 percent at noon to trade at Php47.30 apiece.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.