Cosco Capital Offers 1,600,000,000 Shares for PhP16.8B

Manila—(PHStocks)—Cosco Capital Inc. (PSE: COSCO) announced today the successful pricing of its PHP16.8 billion offering (the “Offering”) of 1,600,000,000 common shares at an offer price of PHP 10.50 per share.

The transaction includes the sale of 1,142,857,143 primary shares for PHP12 billion, and the remaining consists of secondary shares worth PhP4.8 billion. The Offering is in conjunction with the issuance and listing of 4,987,406,421 new shares of the Company pursuant to the SEC – approved increase of capital stock and share swap.

The Company intends to use the net proceeds from the Offering for further development of its commercial real estate business, debt refinancing, expansion into non-food specialty retail businesses and growth of its liquor distribution business.

“We are pleased with the outcome of the offering. We plan to continue to demonstrate our ability to grow our businesses and target opportunities in other consumer segments,” Cosco Capital Chairman Lucio L. Co said.

“With strong macro fundamentals, we believe that we are well-positioned to be a leading consumer-focused conglomerate in the Philippines,” Cosco Capital President Leonardo B. Dayao added.

Deutsche Bank and J.P. Morgan acted as the Joint Global Coordinators and Joint Bookrunners of the Offering.

BDO Capital & Investment Corporation (BDO Capital) and First Metro Investment Corporation (FMIC) acted as the Domestic Lead Managers. Evercore Asia Limited (Evercore) acted as financial adviser to the Company.

About Cosco Capital Inc.

Headquartered in Manila, the Company is a consumer-focused conglomerate with various market-leading and complementary businesses capitalizing on strong consumption growth in the Philippines. It primarily focuses on the broader consumer segment in the Philippines and has a portfolio of businesses that includes food retail, liquor distribution and commercial real estate.

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