Robinsons Land raises P8.5B from REIT stake
ROBINSONS Land Corp. (RLC) on Friday said it had raised roughly P8.49 billion in fresh funds to bankroll ongoing projects and planned land acquisitions following an overnight block placement of shares in its real estate investment trust, RL Commercial REIT Corp. (RCR). In a stock exchange filing, the Gokongwei-led property developer said the overnight block […]
T Kauer 
ROBINSONS Land Corp. (RLC) on Friday said it had raised roughly P8.49 billion in fresh funds to bankroll ongoing projects and planned land acquisitions following an overnight block placement of shares in its real estate investment trust, RL Commercial REIT Corp. (RCR).
In a stock exchange filing, the Gokongwei-led property developer said the overnight block placement involved about 1.73 billion RCR shares at a price of P4.92 apiece, which raised the REIT’s public float to 49.95 percent.
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