The Philippine Stock Exchange (PSE) said Tuesday it approved the delisting of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC). The
The PSE said in an advisory it ordered the delisting of MPIC’s shares from the official registry of the exchange effective Oct. 9.
Shares of MPIC were suspended after its public float fell below the 10-percent required minimum level for listed firms.Based on MPIC’s tender offer report, the bidders in the tender offer—First Pacific Company Limited through affiliate Metro Pacific Holdings Inc., GT Capital Holdings Inc., Mitsui & Co. Ltd. and MIG Holdings Inc. of MPIC chairman and president Manuel Pangilinan—acquired 5.464 billion shares at P5.10 apiece.Including the shareholding of the bidders, this was equivalent to 97.
MPIC is the second company to voluntary delist from the local bourse this year. In February, Eagle Cement Corp. was delisted from the exchange after it was fully acquired by San Miguel Equity Investments Inc. of San Miguel Corp. The PSE also involuntarily delisted two firms—Unioil Resources & Holdings Co. Inc. and PICOP Resources Inc.—over non-filing of reportorial requirements and nonpayment of penalties for disclosure violations.Resorts Group Holdings Inc., a company led by businessman Dennis Uy, is in talks with Cebu-based property developer AppleOne Properties...The Department of Human Settlements and Urban Development opened this year’s celebration of the National Shelter Month, highlighting President...
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