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Chua Group starts tender offer for Asiabest shares next month
The Philippine Star
|February 06, 2025
The group led by businessman Francis Lloyd Chua targets to start by next month its P255 million tender offer for the shares held by minority stockholders of listed Asiabest Group International Inc. (ABG).
In a stock exchange filing, ABG said that Premiumlands Corp. (PLC) and Industrial Holdings and Development Corp. (IHDC) have published their intent to conduct a tender offer for up to 100 million common shares constituting 33.33 percent of the outstanding common capital stock of the company at P2.552 apiece.
The tender offer is slated to commence on March 10, 2025 and end on April 7, 2025.
PLC is planning to create an end-to-end infrastructure group in the country through a backdoor listing in ABG.
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