ISM Communications to sell treasury shares worth P560 million

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ISM Communications Corp. is selling treasury shares to finance possible investments.

In a disclosure to the stock exchange on Wednesday, May 2, ISM said its board of directors approved the sale of 560 million treasury shares to wholly-owned subsidiary ISM Equities Corp. at a price of P1.00 per share.

“This transaction is meant to give ISM flexibility to restructure its capital position more easily to address potential investment opportunities,” the listed firm said. — Krista Angela M. Montealegre