LISTED PAL Holdings Inc., operator of flag carrier Philippine Airlines, plans to raise its capital stock to P20 billion to prepare for what its chief called “a possible re-IPO (initial public offering).”
Stockholders approved the plan to increase the stock by 48 percent from P13.5 billion during their annual meeting in Manila on Thursday — a move that PAL President and Chief Executive Officer Jaime Bautista said was necessary before proceeding with the share sale, which he pointed out has no definite plan yet.
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