Saturday 20 January
Powered by Ajaxy
Nov 14, 2017 @ 19:17

Ramos family drops backdoor listing plans for National Bookstore


The Ramos family has shelved a plan to list National Book Store Inc. on the stock exchange through the backdoor.

“After careful deliberation and many years of study, the board of directors of National Book Store Group has decided to no longer pursue a backdoor listing of its retail assets to enable it to focus on various initiatives integral to the future growth of the business,” said Vulcan Industrial & Mining, which is controlled by the NBS Group.

“The [NBS] Group will consider its options in the capital markets at a more appropriate time in the future,” Vulcan added.

The Ramos family originally targeted to complete the backdoor listing of National Book Store in 2014 but unfavorable market conditions delayed it from doing so.

The country’s largest bookstore chain plans to double its store network to 500 while ramping up presence online to boost sales.

Founded by Soccoro Ramos, NBS hopes to end the year with a total of 240 branches. This is expected to increase further to 330 by 2020.

NBS also owns Powerbooks, NBS Express, and Bestsellers.

Tags: , , , , , , ,

Related Stories
Despite the surge in popularity of e-books, the family of National Bookstore founder Socorro Ramos
Now, overseas Filipino workers (OFW) have a special and legitimate avenue for their savings.
A hundred randomly-selected containers will be checked by the Customs chief.
China and Russia have shown no intention of living up to World Trade Organization rules


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo -