JG Summit said its board approved the infusion of additional capital of up to P17.1 billion into its wholly owned subsidiary JG Summit Olefins Corp. (JGSOC).
JG Summit will subscribe to additional shares of JGSOC, which will be partially issued out of an increase in capital stock and partially through existing unissued shares.
On the increase in authorized capital, JG Summit said that 25 percent would be subscribed, out of which more than 25 percent will be paid on or before Dec. 26, 2024.
This story is from the November 15, 2024 edition of The Philippine Star.
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This story is from the November 15, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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