Phinma bares P1B expansion plans for education, cement
Phinma Corp. has earmarked P1 billion for the continued expansion of its education and construction materials businesses until 2019.
Apart from this, the Del Rosario-led holding firm has budgeted P300 million for its share buyback program, which will last until Dec. 31 next year.
The company will buy back up to 10 percent of its issued and outstanding shares from the open market.
Phinma said the repurchase program would improve shareholder value given the substantial undervaluation of the shares.
?The program is intended to strike a balance between enhancing the company?s capital structure and maintaining the ability to fund future growth and investments,? Phinma said.