Far East Holdings, Inc., owned by San Miguel Corp. president Ramon S. Ang, has announced plans to invest a substantial amount of P10.86 billion in Top Frontier Investment Holdings (TFHI), led by bilyonaryo Iñigo Zobel.
The move is aimed at strengthening TFHI’s financial position and supporting its growth strategy.
In a regulatory filing, TFHI disclosed that its board of directors has approved the subscription of 45 million common shares by Far East Holdings at P241.42 each.
The subscription is expected to be completed with full cash payment on or before June 30, 2023. The terms and conditions governing the subscription will be established in a manner that best serves the interests of TFHI.
This significant investment from Far East Holdings reflects their confidence in the future prospects of TFHI and underscores their commitment to supporting its endeavors.
The transaction will provide TFHI with additional capital resources to pursue its strategic initiatives and enhance its market position.