SAN FRANCISCO, April 27 (Bernama-BUSINESS WIRE) -- Institutional equities broker Decker & Co. announced today the completion of a stock offering for Philippines-based Xurpas, Inc. (PSE:X) in which it served as Joint Coordinator with SB Capital. Xurpas successfully completed an accelerated overnight placement of 155,400,000 shares at Php16.00 per share. The placement was priced at an 11.9% discount to the 30-day average price of Php18.15 per share.
The overnight placement was subscribed to by 21 global funds including Philippine QIBs and funds across Asia, Europe and the U.S. It was structured as a partial top-up, in which Xurpas' founders sold shares and repurchased a portion of those newly issued, and effectively increased the free float level of Xurpas to about 28% from 20% prior to the transaction.
The overnight placement was subscribed to by 21 global funds including Philippine QIBs and funds across Asia, Europe and the U.S. It was structured as a partial top-up, in which Xurpas' founders sold shares and repurchased a portion of those newly issued, and effectively increased the free float level of Xurpas to about 28% from 20% prior to the transaction.
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