MANILA -- The majority stockholder of the Philippines' power grid operator, which has courted controversy over issues including Chinese ownership, is set to kick off a crucial share sale on Tuesday to comply with regulations.
Synergy Grid & Development Phils plans to sell up to 1.15 million shares, including overallotment option, at 12 pesos ($0.24) apiece in a follow-on offering to increase its public ownership, a requirement to remain listed on the Philippine Stock Exchange.
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