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Alliance Global Group Inc. of businessman Andrew Tan is putting in an additional P2.61 billion in fresh capital in its property arm Megaworld Corp. via a shares subscription.
“The subscription is made by AGI to support growth and future business expansions of the corporation in line with the latter’s strategies and directions,” the conglomerate said. Megaworld earlier obtained its board and shareholders’ approval to increase its authorized capital stock by P5.5 billion to P45.7 billion from P40.2 billion.
AGI also has investments in liquor business through Emperador Inc., gaming and leisure through Travellers International Hotel Group Inc. and quick service restaurant through Golden Arches Development Corp., the local master franchise holder for fast-food giant McDonald’s.
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