jg summit

The Philippine conglomerate defied rocky market conditions and raised $200 million in the top-up placement. Over 70 lines participated in the book.

The Philippine conglomerate tells FinanceAsia that it is looking to bulk up in areas in which it is already operating but is wary of dabbling in too many businesses.

The deal is upsized from $75 million after the book is covered in 30 minutes, attracting strong global investor demand.

The Philippines property developer will issue $100 million worth of new shares as part of a $225 million deal, with proceeds going towards the opening of nine new malls by 2008.