Joseph Calata: Calata Corp Focuses on Expansion

The Calata Corp was rumored to have been under investigation due to the stock manipulation of its shares. During the trading days of the corporation, the stock prices underwent a fluctuation where the shares reached P24 per share but declined to as low as 32 percent along the way which led to the allegations.

The 31-year-old CEO and chairman of the corporation, Joseph Calata, was very firm during the rumors claiming that his corporation was never under investigation but the shareholders of the firm. He also stated that he was the one who called the Securities and Exchange Commission to investigate on the weird movements of the stocks.

After four months of investigation, SEC was able to pinpoint those involved in the said manipulation. Initial reports also indicated that Calata Corporation is clear from any involvement in the allegations.

This is good news for the corporations as the firm can now focus on its expansion project where they plan to increase the number of its outlets to about 250 using the proceeds from the initial public offering.

The expansion would provide more farmers and agricultural sector entrepreneurs with access to products and technologies.
- Says Calata in an interview.