ATN Holdings to apply for listing of 2.33M more shares

THE board of directors of listed holding firm ATN Holdings, Inc. has given the green light for the corporation to apply for the listing of 2,325,055,429 shares at the Philippine Stock Exchange (PSE).

These shares will be issued to Unipage Management, Inc.

Broken down, Unipage Management will be subscribing to 325,055,429 common class “A” shares of ATN and two billion common class “B” shares for a price-per-share value of 20 centavos.

Meanwhile, the board also approved the subscription of Arsenio T. Ng, president, chief executive officer, and chairman of ATN, to 824,944,571 shares of the corporation for the same price. These shares will be issued once the capital stock of ATN is increased “under terms and conditions favorable to the corporation.”

“The waiver of the majority of the minority shareholders to conduct a rights/public offering with respect to the abovementioned subscription was also obtained,” ATN said in a disclosure to the exchange.

ATN shares at the stock market closed unchanged for the sixth consecutive day at 52 centavos apiece. — Keren Concepcion G. Valmonte