Resorts World developer Travellers International Hotel Group Inc. (THGI) has fully utilized the funds from its November 2013 initial public offering, devoting most of the capital to its Phase Two and Three expansion plans, the group reported in a disclosure to the PSE late last week.
In its report, THGI explained that its IPO on November 5, 2013 generated P16.5 billion in fresh capital, with an additional P260 million earned from an oversubscription offering the following month, for a total of P16.8 billion.
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