MANILA, May 30 (Reuters) - Cosco Capital Inc launched a 12-billion-peso ($283 million) follow-on share offer priced in the range of 10.50 to 13 pesos per share, IFR reported on Thursday, representing a discount of as much as 30 percent.
Shares of the Philippines firm Cosco closed at 15 pesos on Wednesday. Trading in the stock was suspended on Thursday ahead of the pricing and will resume on Friday.
Primary shares totalling 1.143 billion will be sold if the offer is priced at the bottom end, and 923 million if the offer is priced at the top, said IFR, a Thomson Reuters publication.
Cosco has options to sell 657 million secondary shares if the offer is priced at the bottom and 531 million at the top end, IFR said.
The combined transaction will raise a total of 19 billion pesos, or around $450 million, if the secondary shares are also sold.
The assets of Cosco Capital, formerly Alcorn Gold Resources, include a portfolio of liquor-distribution companies, real-estate firms, an oil-storage business and a 51 percent stake in Puregold Price Club. It is part of the Lucio Co Group, which owns Puregold Price Club Inc.
Deutsche Bank and JP Morgan are the joint bookrunners.