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Backdoor listing via iRipple readied

18 Mar

BY UNICAPITAL SECURITIES

The major shareholders of iRipple, Inc. (RPL) led by the owner of Solar Entertainment Corp. handed control of listed shell firm iRipple, Inc. to an investor group — a transaction tagged by the bourse as a potential backdoor listing.

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iRipple told the stock exchange its shareholders owning 89.49% of the company entered into a share purchase agreement with Alfonso S. Anggala and Conrado Rafael C. Alcantara valued at PHP 305.49 million.

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Posted by on March 18, 2015 in Corporate News, RPL, Stock Market

 

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