July 12, 2010
CP Foods to buy Philippine unit's new shares
Press Release
Charoen Pokphand Foods announced that its board approved a plan to buy new shares issued by its wholly-owned Philippine unit.
Charoen Pokphand Foods Philippines Corp. plans to increase its registered capital by PHP1.45 billion peso (US$31.3 million), to PHP1.5 billion (US$32.4 million), the parent company said in a filing to the Stock Exchange of Thailand.
The Philippine unit will use the extra capital to finance its expansion into aquatic feedmills and swine farming.
Charoen Pokphand Foods did not say when the transaction will take place.
