By JAMES A. LOYOLA
Manila Bulletin
The board of directors of Sta. Lucia Land Inc. (SLI) has revived discussions for a follow-on stock offering of the firm’s shares as current market conditions continue to improve.
In a disclosure to the Philippine Stock Exchange, SLI corporate secretary Patricia Bunye said the planned offering of additional shares is subject to the approval of the firm’s application for a hike in authorized capital pending before the Securities and Exchange Commission.
Bunye said the SLI board has appointed its chairman and president as the authorized signatories with the power to perform all acts and sign all documents necessary in connection with the filings with the SEC and PSE for the proposed stock sale.
She added that the terms of the additional public offering, including the amount and the timetable shall be approved by the SLI board in the future.
SLI parent company Sta. Lucia Land Realty and Development Inc. (SLRDI) is subscribing to P10 billion worth of new shares of SLI through the capital hike via a property-for-equity swap. Read more...
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