Stock Information

ABG | ASIABEST GROUP INTERNATIONAL INC.

Sector: HOLDING FIRMS | Sub-Sector: HOLDING FIRMS

Asiabest Group International Inc. (ABG), formerly AGP Industrial Corporation, was registered with the Securities and Exchange Commission (SEC) on October 23, 1970 as an investment holding company. In 2011, the SEC approved ABG's application for quasi-organization and equity re-structuring thereby substantially wiping out its deficits and allowing the Company to raise additional capital needed for investments.

In December 2011, ABG, together with NiHao Mineral Resources International Inc. and Glencore International AG established GNA Resources International Limited (GNA) under the laws of Hong Kong as a joint venture company to utilize their respective expertise in the mining industry for purposes of identifying, developing and operating mining claims of nickel deposits in the Philippines. On May 29, 2017, the Board of ABG authorized the sale of the Company's interest in GNA.

On September 10, 2018, various shareholders of ABG agreed to sell 200 million ABG common shares to Tiger Resort Asia Limited (TRAL). Thereafter, TRAL conducted a mandatory tender offer which ended on January 9, 2019. On December 5, 2024, a Share Purchase Agreement was executed between TRAL and PremiumLands Corp. (PLC) for the sale of 66.67% of the total issued and outstanding capital stock of ABG. As part of the transaction, PLC shall conduct a tender offer to be completed prior to the agreed closing date.

Source: SEC Form 17-A (2024)