CLSA exercises part of over-allotment option

Belle Corp said CLSA is exercising its right to buy more shares in the company under an over allotment option granted as part of its share offer in its Premium Leisure Corp. unit.
Belle Corp. said last month that it would raise $121 million through the sale of shares in PLC, priced at PHP1.65 a share ($0.037). CLSA was granted the option to an additional 489,556,000 shares in an over allotment option.
On Monday, Belle said it has been informed that CLSA firm will be purchasing 284,652,000 shares.
PLC, formerly known as Sinophil, was spun off from Belle earlier this year into a separately listed company to hold the group’s gaming assets.
Belle, which is developing the City of Dreams Manila complex with Melco Crown, is selling off some of its stake to raise funds and broaden Sinophil’s shareholder base.