MANILA – Businessman Lucio Co is beefing up the capital of the firm operating S&R Membership Shopping after merging the companies managing a shopping mall in Divisoria, Manila.
In a disclosure to the Philippine Stock Exchange, Puregold Price Club Inc said Kareila Management Corp’s board of directors cleared the increase in its authorized capital stock from P500 million to P3 billion. The shares have a par value of P100 apiece.
Kareila, a wholly owned subsidiary of Puregold, operates eight S&R membership shopping warehouses located at Bonifacio Global City in Taguig; Aseana City in Paranaque; Congressional in Quezon City; San Fernando in Pampanga; Davao City; Alabang, Muntilnupa City; Cebu City; and Shaw Boulevard, Mandaluyong City.
Cosco Capital Inc, another company owned by Co, has consolidated its subsidiaries that operate the 999 Shopping Mall in Divisoria, Manila.
In a separate disclosure, Cosco said the board of directors of Nation Realty Inc, Go Fay & Co Inc, SVF Corp and 999 Shopping Mall Inc agreed to merge these companies with Nation Realty as the surviving entity.
Nation Realty, Go Fay and SVF Corp are wholly owned subsidiaries of Cosco, while 999 Shopping Mall is owned by 118 Holdings Inc, a subsidiary of Cosco.
Cosco has interests in retail through Puregold, real estate, liquor distribution and oil storage.
source: interaksyon.com
