Search: Manila's SM Devt Corp plans $103.4 mln rights offer

MANILA, Sept 9 - SM Development Corp of the Philippines, a company controlled by shopping mall magnate Henry Sy, will issue rights shares worth 5 billion pesos , the company announced on Wednesday.

The issue size, price and rights entitlement will be decided later, the company said in a disclosure to the stock exchange. The funds will be used to acquire more real estate assets and finance other corporate purposes, it said.

The company said BDO Capital & Investment Corp is the issue underwriter.

SM Development Corp is a unit of SM Investment Corp , the holding company of Sy's empire, which includes shopping malls under SM Prime Holdings and banking under Banco de Oro Unibank . (Reporting by Raju Gopalakrishnan; Editing by Rosemarie Francisco and Valerie Lee)

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