Philippines' Alliance Global prices TSI's share offer at low end of guidance
MANILA, Sept 20
MANILA, Sept 20 (Reuters) - Philippine conglomerate Alliance Global Group Inc has priced an offering of 1.8 billion common shares in its TrillionStars Holdings Inc unit at 8.98 pesos per share, which may raise up 16.2 billion pesos ($376 million), it said on Friday.
The final offer price is at the low end of an indicative price range of 8.96 to 11.74 pesos that IFR, a Thomson Reuters unit, reported early this week.
The offer price values TSI, which will be renamed Emperador Inc, at about $3 billion, Alliance Global said in a statement. Emperador is the Philippines' largest liquor company and the world's largest brandy producer.
The offered shares account for about 12 percent of TSI.
Alliance Global will use 11.2 billion pesos of the proceeds to fund Emperador's expansion projects.
($1 = 43.05 pesos)
(Reporting by Erik dela Cruz; Editing by Paul Tait)