Unioil Group Eyes Property Backdoor Listing

The Unioil Group is folding in its real estate companies into publicly-listed Chemical Industries of the Philippines Inc. (CIP) in an eight-way merger that may result in a backdoor listing.

CIP said it will be merging with seven companies and CIP will end up as the surviving company. I Photo: UNIOIL Facebook

In a disclosure to the Philippine Stock Exchange (PSE), CIP said it will be merging with seven companies and CIP will end up as the surviving company.

At its special meeting held on Aug. 24, 2023, the Board of Directors of CIP approved the merger of CIP with Unioil Group Inc., Addventure Properties Inc., Citiworld Properties and Development Corp., Exquadra Inc., Quantumlink Realty Corp., Buklod Realty Corporation, and Rivertanks Inc. (collectively, Constituent Companies), with CIP.

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