BRIEF-ABS CBN Confirms On Jan 20, Board Approved Sale Of 21.3 Million Treasury Shares And 27.8 Million PDRS To Institutional Buyers

Jan 26 (Reuters) – ABS CBN Corp:

• CONFIRMS ON JAN 20, BOARD APPROVED SALE OF 21.3 MILLION TREASURY SHARES AND 27.8 MILLION PDRS TO INSTITUTIONAL BUYERS AT 15.23 PESOS EACH

• CONFIRMS THAT LOPEZ COMMITTED TO PURCHASE UP TO 500 MILLION PESOS OF SHARES AND PDRS NOT TAKEN UP BY INSTITUTIONAL INVESTORS

• ON JAN 21, CONFIRMS THAT PROCEEDS FROM WILL BE USED FOR DIGITAL INITIATIVES, CONTENT PRODUCTION AND OTHER GENERAL CORPORATE PURPOSES

Source text for Eikon: ID:nPSX7C1dHJ

Further company coverage: ABS.PS

((Reuters.Briefs@thomsonreuters.com;))