In an overnight placement on Monday, September 11, the holding company sold 350 million shares representing 3.18 per cent stake of its owner Enrique Razon Jr, who is rated by Forbes as the third richest man in the Philippines.
After the transaction, Prime Metroline remains Bloomberry’s largest shareholder with 65.58 per cent of its outstanding shares.
The shares were sold at P10.85 per share, and were placed to international institutional investors at an 8 per cent discount to the volume weighted average price on September 11.
Goldman Sachs (Singapore) Pte was the sole placement agent for the transaction.
Besides Bloomberry and Prime Metroline, Razon also chairs the International Container Terminal Services (ICTSI), a top terminal operator in the Philippines.
Razon also serves as chairman and president of Quasar Holdings Inc, Falcon Investco Holdings Inc, Achillion Holdings Inc, Collingwood Investment Company Ltd, Bravo International Port Holdings Inc, and Provident Management Group Inc.
Bloomberry’s trading price closed at P11.90 per share on Monday, September 11.