iPeople to list shares from AC Education merger tomorrow
iPeople [IPO 7.00 3.05%] [link] disclosed that it will be listing the 295,329,976 new IPO shares that it issued to Ayala Corp [AC 620.00 1.64%] as part of the merger between IPO and AC Education Inc.
The merger itself was initiated way back in 2018.
The shares that will be listed have already been considered as part of IPO’s outstanding shares for some time now, so their listing won’t impact the IPO share price or the proportional ownership of the company.
IPO is a subsidiary of House of Investments [HI 3.40], which is a Yuchengco Family company.
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This is the last step in what turned out to be a very lengthy process of merging IPO and ACEI.
While this isn’t really a material development in the IPO/ACEI merger (it’s really just a technicality), it’s hard to ignore how often the Yuchengo family name has surfaced in the news recently.
The family has fingers in a lot of influential pies, and it’s worth watching to see how their various interests might be “activated” to pursue new opportunities.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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