MANILA, Philippines — Ferronoux Holdings Inc. is seeking shareholder approval to nearly double its authorized capital stock to P1 billion as it moves ahead with a property-for-share swap and a private placement aimed at supporting its planned expansion and meeting public ownership requirements.
In a disclosure on Monday, shell company-led Ferronoux said its board approved increasing the company’s authorized capital stock from P550 million, divided into 550 million common shares with a par value of P1 each, to P1 billion, or 1 billion common shares.
READ: Cosiquien makes P297-M exit from Ferronoux Holdings
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A major component of the capital-raising plan is a property-for-share swap with Eagle I Landholdings Inc.FEATURED STORIES
