ICTSI raises P4.68B

    570

    International Container Terminal Services Inc. (ICTSI) said it has raised P4.68 billion through the issuance of treasury shares.

    ICTSI said the sale is in response to management recommendation “to raise funds for general corporate purposes, including funding of committed capital expenditure.”

    ICTSI closed the transaction overnight where it sold 40 million treasury shares at P117 apiece, representing a 3.9 percent discount to Wednesday’s close.

    The shares were crossed in the Philippine Stock Exchange Thursday.

    “Offering was well received and multiple times oversubscribed by high quality foreign and local institutional investors,” ICTSI said.