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Ang brothers’ Primex mulls cash infusion from new investors

Real estate developer Primex Corp. is jacking up its authorized capital by P1 billion to facilitate the issuance of shares.

In a stock exchange filing, Primex said its board of directors approved an increase in its capitalization from P900 million to P1.9 billion.

The shares will come from the issuance of an additional five billion shares of common stock at a par value of P0.20 per share.