Exchange Properties Resources Corporation announces an Equity Buyback for 623,800 shares, representing 35% for PHP 92 million.
January 08, 2013
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The Board of Directors of Exchange Properties Resources Corporation authorized a share repurchase program on November 28, 2012. Under the program, the company will repurchase up to 623,800 shares, representing 35% of its entire stake from Shang Properties, Inc. (PSE:SHNG) for PHP 92 million.
Shang Properties, Inc. is a Philippines-based investment holding company engaged in property investment and development, real estate management, office and retail leasing, mall, carpark and hotel operations. The Companyâs subsidiaries include Shangri-La Plaza Corporation, which invests, purchases, owns, holds, leases and operates the Shangri-La Plaza Shopping Complex located at Mandaluyong City, Philippines; The Shang Properties Realty Corporation, which is an owner and developer of The St. Francis Shangri-La Place and ShangriLa Place; KSA Realty Corporation, which is a realty development company owns The Enterprise Center; Shang Property Developers, Inc., which is a realty development company owns and develops Shang Salcedo Place; Shang Wack Wack Properties, Inc., which is developing the Shang Residences at Wack Wack project located at Wack Wack Road, Mandaluyong City., and SPI Property Holdings, Inc. which develops a residential condominium project located in Canley Road, Pasig City.
SHANG PROPERTIES, INC. 
