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Axelum shares, down 1.42 percent to P3.45 each on Tuesday morning, have risen by about 40 percent in the weeks ahead of the announcement.
Coconuts are supplied from the southern Philippines and used in producing various goods by Axelum.
Source: https://www.chiangraitimes.com/news/ph-metro-pacific-buy-3rd-of-coconut-firm/
With its global presence, Axelum products are sold in both the domestic and international markets, supplying to food and beverage companies, confectioneries, bakeries, supermarkets and grocery store chains and other establishments around the world.
Source: https://businessmirror.com.ph/2023/02/08/mpic-ventures-into-coconutsector-via-stake-in-axelum/