Philippine company Century Properties Group Inc is beefing up its authorised capital to pave the way for a stock dividend declaration and obtain flexibility for future expansion, the Philippine Daily Inquirer reported citing the company’s disclosure to the Philippine Stock Exchange.
CPG said its board approved an increase in the company’s authorised capital to 9.54 billion pesos ($217.51 million). The current authorised capital stock is 5.3 billion pesos.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 43.8600 Philippine Pesos) (Compiled by Manila Newsroom; Editing by Subhranshu Sahu)