MANILA, Philippines — PhilWeb Corp. is raising its authorized capital by P1 billion to P3.6 billion to accommodate tycoon Lance Gokongwei’s P2.03-billion investment and other capital-raising activities.
In a stock exchange filing on Thursday, PhilWeb said its authorized capital stock will increase from P2.6 billion following amendments to its articles of incorporation.
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The new capital structure will consist of 2.55 billion common shares and 1.05 billion preferred shares, each with a par value of P1.FEATURED STORIES
