Philippines’ Synergy Grid prices $273 mln share offer at bottom of guidance

MANILA, Oct 22 (Reuters) – Synergy Grid & Development SGP.PS, majority owner of the Philippines’ only electricity grid operator, on Friday priced its follow-on stock offering at the bottom of its guidance of 12 pesos to 17 pesos per share.

The final price would allow it to raise as much as 13.85 billion pesos ($273 million) through the sale of up to 1.15 billion shares, including an overallotment option, the company said in Philippine Stock Exchange filing.

($1 = 50.7950 Philippine pesos)

(Reporting by Enrico Dela Cruz and Neil Jerome Morales; Editing by Martin Petty)

((enrico.delacruz@tr.com))