THE 8990 Holdings group plans to increase its stake in property firm Primex Corp. further to 10 percent to gain easy access to Primex’s land bank for an upcoming joint venture, a top 8990 official said on Wednesday.
8990 Holdings Inc. President Januario Jesus Atencio 3rd told The Manila Times his group is targeting to acquire “about 10 percent” of Primex.
In a disclosure to the Philippine Stock Exchange also on Wednesday, Primex said three investors each subscribed to 15 million shares of the company at a price of P4 per share, or a total of P180 million.