Tanduay Holdings to list over 398M common shares next week

One of the country’s most active liquor and distillery concerns is listing more than 398 million common shares covered in a private placement.

 

The shares with a par value of P1 each will cover the placement transaction of Tanduay Holdings Inc. with Tangent Holdings Inc. last December.

 

“The 398,138,889 common shares were issued at P4.22 per share with a total transaction value of P1,680,146,111.58,” Tanduay Holdings said in a disclosure with the Philippine Stock Exchange (PSE).

 

“This completes the company’s placing and subscription transaction conducted in December 2011 involving the secondary offering of 398,138,889 TDY shares held by Tangent under the placing tranche, and the company’s subsequent issuance of an equivalent number of shares to Tangent under the Subscription Tranche 1, Tanduay Holdings added.

 

In its disclosure, Tanduay Holdings told the exchange an Aug. 13, 2012 escrow agreement was executed among Tanduay Holdings, Tangent Holdings, Pan Asia Securities Corp., and Philippine Depository & Trust Corp. in line with the PSE listing rules.

 

The listing of additional 398,138,889 common shares of Tanduay Holdings is set for Monday, Sept. 3, 2012. — MJC/VS, GMA News