New York Ports
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International Container Terminal plans $200 million Manila offering
Port operator International Container Terminal Services Inc. plans to raise up to $200 million in a share offering in the Philippines for general corporate purposes and capital expenditures, according to a term sheet of the deal seen by Reuters.
The company is offering 70 million shares in a base offering that could grow by an additional 20 million shares. The shares are being marketed in a range of 91-92 pesos, equivalent to a discount of up to 9 percent to Tuesday’s closing price of 99.95 pesos. (Reuters)
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