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https://italpinas.com/
Real estate developer Italpinas Development Corp. (IDC) on Friday said it increased capital stock to P700 million from P378 million to fund potential business opportunities.
“The proposed amendment to increase the authorized capital stock will provide IDC more flexibility for any potential business opportunities in the future that would need sufficient authorized and unissued shares that can be issued promptly,” the company said in a disclosure.
Stockholders approved the proposal on a Jan. 22 meeting.
The firm also approved the declaration of stock dividends of P100 million up to P230 million in favor of all stockholders on record, proportional to their shareholdings.