RCI signs P800M equity placement commitment with US-based group


    Roxas and Company, Inc. (RCI), developer of Anya Resort Tagaytay, announced the signing of a P800 million equity placement commitment with LDA Capital, LLC, a US and European based global investment group.

    This equity placement commitment is part of RCI’s fund-raising activities aimed at strengthening its subsidiaries engaged in agri-business, real estate development, hotel operations and management.

    RCI will use the LDA proceeds for additional working capital and to support the reduction of bank debts.

    Fernando Gaspar, RCI president and CEO, said the company has opted for this alternative funding activity because it provides the company with the flexibility to raise cash as needed while at the same time protecting the interests of the company and its shareholders because all transactions will be done through the Philippine Stock Exchange.

    “While 2020 was off to a rocky start, with the Taal eruption affecting one of our key businesses, Anya Resort Tagaytay, and the COVID-19 pandemic putting a pause on operations of all our businesses, we are confident that we will have the tools to recover and further grow the business through the availability of funds from LDA Capital. Some of the projects we will be focusing on are: the coconut processing subsidiary, Roxas Sigma Agriventures Inc. and solar energy project where potential partners have expressed interest in investing. This agreement with LDA demonstrates that RCI remains an attractive investment despite the current uncertainties worldwide,” Gaspar said.