RDC to raise P235m for regional expansion

The company this week revealed it intends to raise the capital by way of a bonus issue as well as by way of a renounceable rights offer.

The price at which the new linked units will be offered will be P2.25 for both the bonus issue and the renounceable rights offer. A bonus issue is an issue of additional shares to shareholders instead of a dividend, in proportion to the shares already held. A rights issue is an offer for shareholders to buy additional securities in a company made to the company’s existing security holders.