INTERNATIONAL CONTAINER TERMINAL SERVICES, INC.
LISTED port operator International Container Terminal Services, Inc. (ICTSI) announced on Monday that it had successfully raised P4.7 billion from the sale of its 40 million treasury shares.
In an e-mailed statement, ICTSI said the offering was “oversubscribed” by “high-quality” foreign and local investors.
The company sold 40 million treasury shares at P117 per share representing a 3.9% discount to the closing share price on Nov. 25, ICTSI said.
The offering was the company’s first equity follow-on offering since 2013, according to ICTSI, adding that proceeds would be used to fund “general corporate purposes, including committed capital expenditures and acquisitions.”