PHILIPPINES – Max’s Group, Inc (PSE:MAXS), which owns Max’s Restaurant and Pancake House, announced that it has received approval from the Securities and Exchange Commission (SEC) for the merger of its 11 wholly-owned subsidiaries.
In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Max’s Group (PSE:MAXS) said it will merge Max’s Circle, Inc; Max’s Makati Inc; Max’s SM Marikina; Max’s Baclaran; Max’s Food Services; Max’s (Ermita); Max’s Franchising; Chicken’s R Us; Square Top; Max’s Express Restaurants; with Max’s Kitchen as the surviving entity.
“The merger is part of the continuing efforts of the company to streamline and rationalize the operations of the Max’s Group,” the company said in its disclosure.
Max’s Group, Inc. (PSE:MAXS)’s stock traded slightly lower on Monday at P21.30 a share from last week’s closing price of P21.70. About 9,800 shares exchanged hands before noon today, with a value of P208.64 million.
Max’s Group, Inc. has a 52-week high of P35.50 and a 52-week low of P17.30. The company has market capitalization of P23.59billion – BusinessNewsAsia.com