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Article: ATR Financial to raise funds

Article from:
The Manila Times
Article date:
August 14, 2008
Author:
Copyright

ATR Kim Eng Financial Corp. will sell additional shares in fourth quarter of the year to fund its expansion.

In a statement Wednesday, ATRKE Financial said it would raise P623 million through a follow-on rights offer to finance the expansion of its capital markets, insurance, lending, and real estate businesses.

Up to 230,825,742 common shares, with par value of P1 per share, will be offered at a ratio of one share for every three shares owned, its book value per share last year. The rights offer will increase the company's total outstanding shares from 692,477,229 to 923,302,971, and total consolidated equity attributable to ATRKE Financial shareholders to P2.49 billion from P1.87 ...

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