Alpahaland Corp. has sold a combined 109 million shares at P2.50 apiece to three foreign investors, raising more than P272 million that it says it “sorely needs in order to maintain its operations.”

It issued 10 million shares, worth P25 million, to Citadel Investments Ltd., another 10 million shares for P25 million to Derek Arculli, an individual investor, and 89 million shares, worth US$5 million, to Fine Land Ltd.

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