Saturday 20 October
Powered by Ajaxy
Oct 28, 2017 @ 18:40

AgriNurture raises P243M from sale of shares to Japanese firm

 

AgriNurture Inc., a listed agricultural firm owned by businessman Antonio Tiu, sold P242.83 million worth of shares to Goonies Co. Ltd. of Japan.

In a regulatory filing, AgriNurture said its board approved the issuance and listing of 22.78 million primary shares in favor of Goonies, a Japanese trading firm.

The shares will be issued upon execution of the subscription agreement this month.

AgriNurture said 
the transaction was intended to raise additional working capital and trim its payables.

Tiu, through AgriNurture, is exploring opportunities in Japan, which sources a number of off-season vegetables from the Philippines.

The company earlier increased its stake in Zongshan Fucang Trade Co. Ltd. to 51 percent, giving it a strong foothold in China.

Located in Zhongshan City, Guangdong province in China, Fucang is engaged in agriculture commodity trading and has various investments in rural real estate development and agriculture trading platform.

AgriNurture supplies fresh produce to the country’s largest retailers. It also owns popular fruit shake retailer The Big Chill.

Please follow and like us:

Tags: , , , , , , , , , , , , ,

Related Stories
AgriNurture Inc. has increased its stake in Zongshan Fucang Trade Co. Ltd. To 51 percent
The CEO of one of the country’s largest conglomerates, Alliance Global Group Inc., proudly shared
International Container Terminal Services Inc. is raising its stockholdings in Manila North Harbor Philippines Inc.
Shares of Nike tumbled early Tuesday on worries the sport goods giant's new marketing campaign


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.