BusinessWorld
METRO PACIFIC Investments Corp. (MPIC) has raised P8.64 billion through a private placement for its toll road projects, the firm said in a disclosure on Friday.
The transaction involved 2.4 billion shares which were sold at P3.60 apiece, 5% lower than the P3.79 closing price on Thursday. The firm saw its shares end Friday at P3.60 per.
"This undertaking prepares us for the planned expansion of our toll roads business that will bring us closer to realizing our vision of connecting the North Expressway to the South into one seamless highway," Jose Ma. K. Lim, president and CEO, said in the disclosure.
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