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JG Summit Pumps Up To ₱11 Billion Cash Into Petrochem Unit
- By The Financial District
- Nov 22, 2023
- 1 min read
JG Summit Holdings Inc., the flagship of the Gokongwei Group, is set to infuse additional capital of up to P11 billion into its wholly-owned subsidiary, JG Summit Olefins Corporation (JGSOC).
The capital infusion aims to settle maturing obligations and support JGSOC's operations amid a period of declining market demand and rising input costs. I Photo: JG Summit Olefins Corporation Linkedin
The capital infusion aims to settle maturing obligations and support JGSOC's operations amid a period of declining market demand and rising input costs.
The injection will involve the subscription of additional shares in JGSOC, with 1.67 billion new shares issued at P6.57 per share, equivalent to 20.73% of its outstanding capital.
