Central Azucarera de Tarlac moves to widen public ownership
CENTRAL AZUCARERA de Tarlac, Inc., the sugar empire formerly owned by the relatives of President Benigno S. C. Aquino III, is undertaking measures to boost public ownership in the company.
Central Azucarera de Tarlac secured board approval to amend its articles of incorporation, increasing the number of shares to 400 million from 40 million, while decreasing the par value from P10 per share to P1 per share, the company said in a disclosure to the stock exchange on Wednesday.
“The stock split, i.e. the increase the number of shares and the decrease in the par value, will allow a wider base of the public to participate, invest, and gain in the company’s financial sustainable growth,” Central Azucarera de Tarlac said.
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