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                    [ArticleID] => 206202
                    [Title] => Filipino Fund spins off new unit to hold its assets
                    [Summary] => Filipino Fund Inc., a closed-end investment company partly owned by the Ayalas, has spun off a new company that will hold its assets, including its stock investments, as part of its quasi-reorganization plan.


The quasi-reorganization plan entails the unbundling of Filipino Fund’s assets and lodging of its listed equities and other income under a new company named Philippine Index Fund (PIF).


It also involves the reduction of Filipino Fund’s authorized capital stock and the return of capital to shareholders of Filipino Fund in the form of PIF shares.


                    [DatePublished] => 2003-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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ISAGANI DE CASTRO AND FRANCIS LUNA

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                    [ArticleID] => 206202
                    [Title] => Filipino Fund spins off new unit to hold its assets
                    [Summary] => Filipino Fund Inc., a closed-end investment company partly owned by the Ayalas, has spun off a new company that will hold its assets, including its stock investments, as part of its quasi-reorganization plan.


The quasi-reorganization plan entails the unbundling of Filipino Fund’s assets and lodging of its listed equities and other income under a new company named Philippine Index Fund (PIF).


It also involves the reduction of Filipino Fund’s authorized capital stock and the return of capital to shareholders of Filipino Fund in the form of PIF shares.


                    [DatePublished] => 2003-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

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Filipino Fund spins off new unit to hold its assets

By Zinnia B. Dela Peña | May 15, 2003 - 12:00am

Filipino Fund Inc., a closed-end investment company partly owned by the Ayalas, has spun off a new company that will hold its assets, including its stock investments, as part of its quasi-reorganization plan. The...

Business