Cebu Landmasters FOO approved by the PSE
Cebu Landmasters [CLI 2.83, up 0.3%] [link] had its follow-on offering of preferred shares approved by the PSE. CLI will raise up to P5 billion through the sale of two series of preferred shares which will be listed under the ticker symbols CLIA1 and CLIA2. The dates provided by the PSE showed that the prefs would be priced today (meaning that CLI would apply the dividend rates to each series; both will sell for P1000/share). The offer period will run from March 19 through April 2, with a listing tentatively scheduled for April 12. The transaction will be jointly managed and underwritten by BPI Capital [BPI 120.00, up 1.6%] and China Bank Capital [CHIB 36.00, up 2.7%].
