Ayala raises $350m from top-up placement

The property developer defied rocky market conditions to complete the Philippines' first placement in 2015.
An Ayala shopping mall in Subic Bay, Luzon, in the Philippines
An Ayala shopping mall in Subic Bay, Luzon, in the Philippines

Ayala Land, the Philippine property developer, raised Ps15.8 billion ($350 million) from an accelerated top-up in shares on Friday night, in the middle of the initial price range.

¬ Haymarket Media Limited. All rights reserved.

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