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| English: A Benchmark For Stocks and Shares. A bench and the stocks, which two felons could share, on Sheriff Hutton village green (Photo credit: Wikipedia) |
Property Developer Vista Land & Lifescapes, Inc. boosted the number of stocks for trading after selling all of its treasury shares for roughly P636.07 million, the Villar-led company said in a disclosure on Friday.
The transaction involved a total of 133.91 million shares sold at P4.75 apiece.
The sale increased the company’s outstanding and common shares to 8,538,740,614 from 8,404,830,614.
The Philippine Stock Exchange defines treasury shares as “shares of stock which were previously issued and fully paid, but subsequently reacquired by the issuing corporation by purchase, redemption, donation, or through some other lawful means.”
Treasury shares are non-voting, non-outstanding, and not included in dividend issuances.
A Vista Land officer said on Thursday that the company decided to sell all its treasury shares to take advantage of perceived big demand and to boost its liquidity.
http://www.bworldonline.com/content.php?section=Corporate&title=Vista-Land-releases-more-shares-into-the-market&id=63768
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