Roxas & Co. Inc. (RCI) increased its outstanding capital stock to 2,062,662,305 common shares from 2,061,985,305 common shares after it sold back to RCI 677,000 treasury common shares. The company said in a filing that it had sold to date 40,923,361 treasury common shares of the board authorized sale of 933,703,514 common shares.
“On 24 September 2014, the board approved the continuous sale of treasury shares as a fundraising initiative for working capital requirement and expansion projects. The company is programming this year to meet its business plan commitments by raising funds through the sale of treasury shares. The company started selling its treasury shares on 15 February 2018,” RCI said in its disclosure.