Section 9Sec./Art. 9

Capitalization.- The Corporation shall have an authorized capital stocks of Ten billion pesos (P10,000,000,000.00) divided into forty-five(45) million Class "A" shares and fifty-five (55) million Class "B" shares, each voting and with a par value of One hundred pesos (P100.00). The Class "A" shares shall be fully subscribed by the Government or any of its instrumentalities, and may only be owned, sold to, bought or held by a government entity. The Class "B" shares may be owned by private entities and sold through tenders, public offerings, or the stock market, at such time, price or numbers as may be authorized by the Board in accordance with the Corporation Law.

The subscriptions of the National Government in Class "A" shares shall be paid as follows:

a. the unexpended balances of appropriations in the current General Appropriations Act, Executive Order No. 182 and other acts in force upon approval hereof, pertaining to, held or used by, or available to the former Bureau of Posts, and its successor Postal Services Office, of the Department of Transportation and Communications;

b. the values of all the existing assets of the Bureau of Posts and its successor office the Postal Services Office, and the various postal facilities throughout the country owned by it, to be determined by an independent appraiser within a year of the effectivity of this Act;

c. any surplus income that may be derived from or accrued to the Corporation upon its organization into a corporate body and its assumption of the assets and liabilities of the Postal Services Office; and

d. such amount as may be appropriated from time to time from the funds of the National Treasury not otherwise appropriated, including any outlay from the Infrastructure Program of the National Government.