December 7, 2024 | 12:00am
MANILA, Philippines — Ferronoux Holdings Inc., a company led by Michael Cosiquien, is in talks with investors on various options that include the potential sale of the company.
In a stock exchange filing, Ferronoux said it is actively engaging in discussions with several potential investors who have expressed their strong interests in supporting the growth and expansion of the company.
“These discussions are part of our overarching strategy to fortify the company’s market position and boost its future potential,” Ferronoux said.
While it is in negotiations with multiple parties, the company said that no final agreements or commitments have been made.
“We remain open to exploring all strategic options, including the potential sale of the company, provided such proposition aligns with the best interests of our shareholders and offers a compelling value proposition,” the company said.
Ferronoux, formerly AG Finance Inc., was established in 2001 primarily to operate as a financing company and provide short-term, unsecured credit facilities to permanent rank and file employees of medium-sized companies in the Philippines.
In 2003, the company expanded its market coverage to include professionals and skilled workers in North America and the Middle East.
The company ceased its lending activities in 2015 after its board approved the change of its primary purpose to that of a holding company.
Its secondary purpose is to engage in mining and smelting operations in line with its plans to diversify and expand its business.
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