- | Businessman Lowell L. Yu has increased its stake in $PA to become its majority owner |
- | Unido Capital Holdings, Inc. subscribed to an additional 125M common shares |
- | The deal effectively raises Unido Capital’s stake in Pacifica to 60.94% from 36.53% previously |
| Majority Shareholder |
The Cebu-based holding firm of businessman Lowell L. Yu has increased its stake in Pacifica, Inc. to become the majority owner of the listed shell company. This follows the approval of the Securities and Exchange Commission on Nov. 26 of the company’s application to increase its authorized capital stock to P700 million from P200 million.
In separate disclosures on Wednesday, Pacifica announced it is changing its corporate name to Pacifica Holdings, Inc. and is increasing the par value of its shares to P1 each from P0.005 previously.
November 28, 2019 11:22 am