“It’s also good for RCR, since it will open the door for more asset injections for RLC, which is dividend accretive,” she said. Following the sale, RCR’s public float rose to 39.34%, equivalent to 7.69 billion shares. Analysts, however, cautioned that RLC must carefully manage capital allocation and market timing to sustain earnings growth. RLC said it will submit a reinvestment plan detailing the use of proceeds, in line with regulatory requirements. On Tuesday, RLC shares closed flat at P15.26, while RCR shares fell 4.53% or 37 centavos to P7.80 each.