SM to put property interests under Shoemart Inc.

By Elizabeth Sanchez-Lacson
Inquirer

SM Investments Corp., the publicly listed holding firm of the mall magnate Henry Sy, said it would merge all its property interests under Shoemart Inc., a privately held investment company of the Sy family.

Inquirer sources said the SM group could be preparing for an initial public offering (IPO) of Shoemart stock, but they stressed that a decision on this had yet to be made.

In a disclosure to the stock exchange, SM Investment said the consolidation would be done through a share swap.

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