JG Summit to infuse P11B into olefins unit

By Brix Lelis

Nov 21, 2023 12:26 am

GOKONGWEI-LED conglomerate JG Summit Holdings Inc. said Monday that it was planning to infuse P11 billion in fresh capital into a wholly owned petrochemical subsidiary via an additional subscription of shares.

JG Summit told the stock exchange that its board of directors, in a meeting last Friday, approved the proposed capital infusion to JG Summit Olefins Corp. (JGSOC), a petrochemical company that operates the country's first naphtha cracker plant.

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