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Chemphil to sell 10% of its shares through FOO

Chemical Industries of the Philippines (Chemphil) has firmed up more details of its planned follow-on offering.

Chemphil said the shares to be issued represent at least 10 percent of its issued and outstanding shares.

The shares will come from stockholders Chemholdings Corp., A2K Holdings Corp., and RG Holdings Corp.

Chemholdings and A2K Holdings will each offer 504,533 shares, accounting for a combined 9.8 percent of the offering.

The remaining 0.2 percent or 20,595 shares will come from RG Holdings.

While there is no definite timetable yet for the follow-on offering, Chemphil plans to conduct it on or before December 1, 2023.

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