National Bookstore abandons backdoor listing plan | ABS-CBN

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

National Bookstore abandons backdoor listing plan

National Bookstore abandons backdoor listing plan

ABS-CBN News

 | 

Updated Nov 15, 2017 10:29 AM PHT

Clipboard

MANILA - National Bookstore has abandoned a planned backdoor listing for its retail assets in the stock exchange through Vulcan Industrial and Mining Corp, the listed firm said Wednesday.

In a letter to Vulcan, National Bookstore said it would instead focus on "various initiatives integral to the future growth of the business." Vulcan furnished the stock exchange with a copy of the letter.

"In light of this development, Vulcan will act accordingly and revisit its strategy and explore various ways to deliver value to our shareholders," Vulcan said, as it sought to halt trading in its shares.

National Bookstore subscribed to 850 million Vulcan shares in August 2014 in preparation for a backdoor listing.

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.