Premium Leisure shareholders raise $121m in share sale

Premium Leisure Corp. said parent company Belle Corp. will raise $121 million through the sale of shares, priced at PHP1.65 a share ($0.037).

Belle, two of its units and an affiliate, are selling 3,263,714,000 common shares in Premium Leisure, which was spun off earlier this year into a separate unit to hold the group’s gaming assets.

Belle has also agreed to sell an additional 489,556,000 shares in an over allotment option.

The sale price was a 10 percent discount to the company’s closing price on Sept. 18th, ahead of a six-day voluntary trading suspension. The stock sank 5 percent on resumption of trading Monday.

 

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