MANILA, Philippines — Shakey’s Pizza Asia Ventures Inc. (SPAVI), the full service restaurant chain owned by the Po family, has incorporated a new subsidiary, Shakey’s Pizza Commerce Inc.
In a disclosure to the Philippine Stock Exchange (PSE) yesterday, SPAVI said the Securities and Exchange Commission (SEC) has already approved the incorporation of the new company.
According to its certificate of incorporation, Shakey’s Pizza Commerce Inc. will “engage in, conduct and carry on in the Philippines and elsewhere the business of buying, selling, distributing and marketing at wholesale or retail, goods, commodities and merchandise of every kind and description.”
The authorized capital stock of the corporation is P400 million, divided into 400 million shares with a par value of P1 each.
Among the new company’s directors are Vicente Gregorio, Ricardo Gabriel Po, Teodoro Alexander Po, Christopher Po and Leonardo Arthur Po.