학술논문
La Tondena restarts preferred stock offer.
Document Type
Article
Author
Source
Subject
*Convertible preferred stocks
*Stock prices
*Debt-to-equity ratio
*Cost structure
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Language
ISSN
0958-9309
Abstract
This article reports on the decision of La Tondena Distillers to restart its convertible preference share offering as of February 1999. Conditions are thought to have improved on the back of an increased share price and the company's retirement of up to P1 billion of debt. The aim of the issue is to further improve the cost structure and reduce the gearing to a debt equity ratio of 1.8x. La Tondena is also planning to market the share through a private placement focusing on the Asian Pacific as well as to domestic institutions.