BIZ BUZZ: Real estate next for Ferronoux?

Much is still left unsaid about Ferronoux Holdings Inc., which has been a shell company since 2015, and its partnership with so-called Themis Group Corp.

But investors learned on Monday that Cosiquien-led Ferronoux plans to venture into real estate after apparently not hitting the mark as a financing firm nearly a decade ago.

In a stock exchange filing, Ferronoux said Themis’ P80-million investment via private placement would be used to support its operations as well as fund other costs in “evaluating opportunities for the company.”

While we initially had no idea about Themis, Ferronoux finally gave us something to chew on.

According to Ferronoux, Themis was incorporated on Jan. 10, 2024, and is primarily engaged in property.

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“[Ferronoux] is geared toward advancing its business into real property development by undertaking strategic initiatives aimed at establishing presence in the real estate sector,” the company said in its disclosure.

Let’s see if this deal yields good results and finally jolts Ferronoux back to life.