P327M for UBP’s 15 board execs in 2017

IF the public investors will be interested to know the layers after layers of ownerships of listed companies, they have to examine the layers and layers of ownerships of Cemex Holdings Philippines Inc. ( CHP). They could have been among the company owners having bought from the company 2.338 billion CHP common shares under an initial public offering (IPO). The IPO represents 45 percent of the present outstanding CHP common shares.

However, said layers and layers of ownerships are not a Cemex monopoly. Other listed companies do the same and, in some cases, are even worse by making the public their majority stockholders.

Cemex, according to the website of the Philippine Stock Exchange (PSE), is “a subsidiary of Cemex Asian South East Corp. ( CAEC)” which, in turn, “is a wholly-owned indirect subsidiary of Cemex Espana S.A., which is indirectly owned by Cemex S.A.B. de C.V.”

In the same PSE website, Cemex said it has “two operating subsidiaries” — Apo Cement Corp. and Solid Cement Corp., “which,” it said, “are both involved in the production, distribution and sale of cement and other cement products in the Philippines.”

Foreign units

Cemex, the locally listed company, also wholly owns foreign subsidiaries such as. Falcon Re Ltd. and Cemex Asia Research A.G.