InterAksyon.com means BUSINESS
MANILA, Philippines - GT Capital Holdings Inc. announced on Thursday that it would increase the number of shares it is selling to the public to meet strong demand from investors.
In a disclosure to the Philippine Stock Exchange, the holding firm of George S.K. Ty family said its acting stabilizing agent, UBS AG, has fully exercised the overallotment option with a total of 6.2 million shares worth P2.8 billion.
The share price has climbed from its initial public offering (IPO) of P455 apiece since its listing on April 20, increasing by 13 percent to P513.00 as of Wednesday.
"We are pleased with the overwhelming response to GT Capital's IPO in the aftermarket performance such that we are able to exercise the overallotment option within three days after the listing last Friday," Carmelo Bautista, GT Capital president, said.
The holding firm said it continues to experience "strong interest" from foreign investors as shown by the "consitently" high volumes being traded in the open market.
GT Capital is the parent firm of the Metropolitan Bank & Trust Co. group, Federal Land Inc., Global Business Power Corp., Toyota Motor Philippines and Philippine AXA Life Insurance Corp.
InterAksyon.com means BUSINESS
BUSINESS NEWS
