Alliance Global Group raises PHP1.1bn through stock warrants
Alliance Global Group said it raised PHP1.1 billion ($18.71 million) through a stock-warrant sale. The company said the proceeds are expected to support developments including Newport World Resorts, Westside City, Mactan Newtown and Boracay Newcoast; each warrant was priced at PHP0.50 and gives its holder the right to buy one share at PHP12 within five years.
The raise provides capital for Alliance Global Group’s named integrated resort and property developments in the Philippines.