Economy 1 MIN READ

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

October 22, 2021By 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)


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