Ayala Land Inc. is changing the corporate name of its majority-owned subsidiary Prime Orion Philippines Inc. to Ayalaland Logistics Holdings Corp.
POPI said in a disclosure to the stock exchange the change aimed to “align with the company’s vision to be the leading real estate logistics and industrial estate developer and operator in the Philippines.”
The proposed change in the company’s name will be subject to shareholders’ approval and taken up during the annual stockholders’ meeting on April 12.
Ayalaland Logistics’s stock symbol in the Philippine Stock Exchange will also be changed to “ALL.”
Ayala Land in January acquired Mitsubishi Corp.’s 20-percent stake in Laguna Technopark Inc. for P800 million.
Ayala Land said it would swap the 20-percent equity interest in LTI for additional shares of stock in POPI, equivalent to 323,886,640