Merkado Barkada
October 28, 2024 | 8:28am
Arthaland [ALCO 0.42 unch; 18% avgVol] [link] set the dividend rate of its Series F Preferred shares offer at 7.326%. The shares will go on offer starting today at a price of P500/share. The offer ends on November 4 and the shares will be listed on November 14.
MB BOTTOM-LINE: The dividend rate in this offer is considerably higher than that offered by the Ayala Corp (6.05%) prefs and the Petron prefs (6.84% to 7.10%), but also considerably lower than that offered by Vista Land (7.99% to 8.4%), and lower than the 8% interest rate on DoubleDragon’s new bonds offering. I’m curious to see if they’re able to sell the entirety of the over-subscription option, or if the market’s interest is already fully satisfied by just the base offer.
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