The company behind the Philippines’ top mobile wallet GCash has approved a stock split to increase the number of its common shares amid plans for an initial public offering.
Globe Fintech Innovations Inc. will reduce the par value of its common shares to 0.03 peso per share from 1 peso and increase the number of authorized common shares to 71.7 billion from 2.15 billion, according to shareholders
The move, which keeps the company’s authorized capital stock of 2.15 billion pesos, is subject to regulatory approval, they said.
“The company is future proofing for ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.