Pryce board approves P122.5M shares placement, subscription deal

Corp said on Wednesday its board of directors has approved a shares placement and subscription transaction worth P122.5 million to raise fresh capital and stimulate liquidity in the market for the company’s stock.

In a disclosure to the stock exchange, Pryce said its board approved the placing and subscription transaction of its shareholder Josefina Multi-Ventures Corp. (JMVC), in which JMVC will sell 24.5 million Pryce shares to an undisclosed institutional buyer for P5 per share.