Philippines' Synergy Grid, country's only electricity grid operator, prices US$273 million follow-on offer at bottom

MANILA, Oct 23 (Reuters): Synergy Grid & Development, majority owner of the Philippines' only electricity grid operator, has priced its follow-on stock offering at the bottom of its guidance of 12 to 17 pesos ($0.24 to $0.33) per share.

The final offer price will raise as much as 13.85 billion pesos ($273 million) through the sale of up to 1.15 billion shares, including an overallotment option, the company said in Philippine Stock Exchange filing.