March 22, 2017

MPI refutes market speculation of imminent capital raising

Metro Pacific Investments Corp (MPI) today issued a statement in response to market speculation that the company will conduct a capital raising exercise in the near term. MPI released the statement following sharp declines in its share price over the past six consecutive trading days, down 10.6% from P6.71/sh to P6.00/sh yesterday, amid unconfirmed reports the company will do a capital raising. MPI said “management has decided that it is not necessary for MPI to conduct a capital raising exercise in the near future” and that the continued expansion of the company is “to be funded through a combination of internal resources and external borrowing.”