Ayala Land renames Prime Orion

AYALA Land Inc. on Tuesday said it is changing the name of Prime Orion Philippines Inc. (Popi), a company that has landholdings in economic zones and in Tutuban in Divisoria in Manila.

In its disclosure to the Philippine Stock Exchange, the board of the country’s second-largest property developer approved to rename Popi into Ayala Land Logistics Holdings Corp., with ALL as its new stock symbol.

The company said it is renaming Popi “to align with the company’s vision to be the leading real-estate logistics and industrial estate developer and operator in the Philippines.”

The move will be up for approval during its annual stockholders’ meeting in April.

Ayala Land controls Popi after it bought a 51.06-percent stake in the company in February 2016. It now owns some 63.9 percent in the company.

Originally named Philippine Orion Properties Inc., the company was incorporated on May 19, 1989, as an investment holding company. The merger of the company with First Lepanto Corp. paved the way for the entry of the Guoco Group of Hong Kong through its affiliate, Guoco Assets (Philippines) Inc., as principal shareholder of the company.

In 1994, the company was renamed as Guoco Holdings (Philippines) Inc., but again changed its name to the present one on January 4, 2002.

The company earlier said it is diversifying its real-estate portfolio that now includes industrial park and property logistics. VG Cabuag