Metro Pacific Is Said to Mull Raising $500 Million for Toll Unit [Yahoo! Finance Canada]
FIRST PAC CO LTD S/ADR (FPAFY)
NASDAQ:AMEX Investor Relations:
firstpacific.com
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The company, backed by Hong Kong-based First Pacific Co. Ltd., is working with a financial adviser on a potential funding round that could value Metro Pacific Tollways Corp. at as much as $5 billion, said the people, asking not to be named as the process is private. The Manila-based group has started sounding out preliminary interest from prospective investors including infrastructure funds, the people said. Deliberations are ongoing and Metro Pacific could still decide not to proceed with the offering, the people said. In response to a query from Bloomberg News, a representative for Metro Pacific confirmed the fundraising plans for its tollways unit, without elaborating any further. The Philippine conglomerate operates 253 km (157 miles) of expressway across seven major domestic toll road systems, with more than 30 km under development, according to its latest annual report. The company also has interests in power, water, light rail, agriculture and he
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