NEIL JEROME C. MORALES
BusinessWorld
METRO PACIFIC Investments Corp. (MPIC) plans to disburse the entire P8.64-billion proceeds from its recent share sale within the year, with spending eyed not just for toll roads in the company’s pipeline but also “new businesses not necessarily disclosed.”
On Friday, MPIC sold 2.4 billion shares to Metro Pacific Holdings and some “qualified buyers” at P3.60 apiece, 5% lower than the P3.79 closing price on Thursday.
The share sale had increased the total number of outstanding shares by roughly 5% and thus had caused Metro Pacific Holdings’ interest to drop to 56.54% of MPIC instead of 59.63%. Shareholdings of the public, inclusive of the investors to the offer, meanwhile increased by 3.1%.
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