Stockholders okay CHI, CPVDC merger

STOCKHOLDERS of Ayala-owned Cebu Holdings Inc. (CHI) approved yesterday the merger between CHI and its subsidiary Cebu Property Ventures Development Inc. (CPVDC). CHI is the surviving entity.

During CHI’s annual stockholders’ meeting yesterday, Ma. Luisa Chiong, CHI chief finance officer, told the stockholders that the merger would create a “unified story for Cebu investments” as well as create a wider shareholder base, which will increase liquidity of the shares, allowing investors to focus on one listed company.

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