National Bookstore completes share subscription

06 Jan


ALAKOR Corp. and National Book Store, Inc. completed the infusion of fresh capital into affiliate Anglo Philippine Holdings Corp. (APO) in a bid to help the listed conglomerate pay off its debts and bankroll future projects.

Anglo Philippine Holdings Corp. issued stock certificates to the 2 companies after they fully paid a total of 728.3 million shares they subscribed to at PHP 1.90 apiece, based on the 60-day volume-weighted average closing price of APO shares from July 30 to December 26 last year.

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Shares in APO, which is controlled by the Ramos family, ended Monday trading at PHP 1.60 each, down by one centavo or 0.6%.

The transaction is intended to raise funds for the Company which will be used, in whole or in part and in any combination, to:

settle outstanding loan obligations
acquire dividend-yielding securities
finance the Company’s share in future property development projects.

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Posted by on January 6, 2015 in APO, Corporate News, Stock Market


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