PAL's parent moves to boost capital stockPhilippine Airlines' parent company is making moves to increase its authorized stock, in a bid to expand its valuation years after filing for bankruptcy in the middle of the pandemic. In a disclosure sent to the Philippine Stock Exchange on Tuesday, PAL Holdings Inc. said they submitted an amendment to their application to increase authorized capital stock. Disclosure broken down revealed PAL Holdings received 323.77 million common shares in its flag carrier subsidiary. The board of PAL’s parent firm already approved a move to issue up to 5.615 billion common shares in exchange for up to 360.66 million shares of the flag carrier. PAL’s parent posted a consolidated operating income of P17 billion in 2022.

Source: Philippine Star July 04, 2023 17:07 UTC