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MPI shareholders OK PHP 10-billion capital hike

08 Jun

Metro Pacific Investments Corp. (MPI) has secured approval to increase its authorized capital stock by PHP 10 billion to PHP 40.05 billion.

Although it has no plans of selling new shares at the moment as the application to hike its authorized capital stock is simply “for flexibility in case the board of directors of MPIC determines in the future that there is a need to raise capital.”

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MPI said in case the firm decides to sell new common shares, the shares to be issued must not exceed 10% of the authorized capital stock of MPI.

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Posted by on June 8, 2015 in Corporate News, MPI, Stock Market

 

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