SEC approves Unido’s P125-M share subscription of Pacifica
Credit to Author: Eireene Jairee Gomez| Date: Wed, 27 Nov 2019 16:26:23 +0000
THE Securities and Exchange Commission (SEC) has approved Unido Capital Holdings Inc.’s subscription of P125 million worth of shares of Pacifica Holdings Inc., bringing a 60.94-percent possession for the former. In a disclosure, Pacifica said this came as the SEC approved the company’s increase in capital stock to P700 million from the previous P200 million. Of the P500-million increase, Unido subscribed to 125,000,000 common shares of Pacifica at P1 per share. “The additional subscription of 125,000,000 shares constitutes 38.46 percent of the resulting outstanding capital stock of Pacifica Holdings Inc.,” the firm said. “As a result of the additional subscription of 125,000,000 shares, Unido Capital Holdings Inc. now directly owns a total of 60.94 percent of the current aggregate outstanding capital stock of Pacifica Holdings, Inc,” it added. In a separate disclosure, Pacifica said that the SEC had also approved renaming to Pacifica Holdings Inc. from the previous Pacifica Inc. Shares of Pacifica went up 1 centavo or 22.22 percent to close at P0.04 apiece on Wednesday.