Listed property developer Italpinas Development Corporation (IDC) has received additional financial support after securing more than P100 million through a private placement deal. IDC's chairman and CEO, Romolo Nati, stated that they took two years to find the ideal investor. Businessman Benjamin Tan Co agreed to purchase a 15% stake in IDC at P1.99 per share, worth approximately P188 million.
Co, known for his ventures in petrochemicals, PVC resins and products, steel manufacturing, and other industries, is expected to be a valuable partner for IDC's future growth plans in multiple locations and in the tourism and hospitality market
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