Universal Robina raises $173 million from placement

Philippine food and beverage company Universal Robina Corp last night raised Ps7.44 billion ($173 million) from the sale of part of the treasury stock held on its books. The deal, which was the first block trade in Asia since mid-May, attracted a lot of interest from international funds, allowing the upsize option to be exercised in full and the price to be fixed at the mid-point of the range.