Quantcast
Latest Stories

San Miguel Properties delisting from PSE

By

MANILA, Philippines–Diversifying conglomerate San Miguel is taking its property unit San Miguel Properties Philippines Inc. (SMPI) back to private hands.

The board of SMPI approved the filing of a voluntary petition to delist from the Philippine Stock Exchange, said a disclosure on Wednesday.
In line with the delisting rules on PSE, the board has also approved SMPI’s conduct of a tender offer to buy out shares held by minority stockholders.

The thinly traded SMPI, one of the subsidiaries of San Miguel Corp., has a meager public float of 0.06 percent out of its market capitalization of about P85 billion. It last traded at P700 per share on Nov. 13 last year.

SMPI was among the seven publicly companies on which trading was suspended at the start of the year due to failure to comply with the 10 percent minimum public float required by the PSE for continuing listing.

In its disclosure, SMPI said it had mandated ATR Kim Eng Capital Partners Inc. as financial adviser on its tender offering. The tender offering is targeted to run from Feb. 27 to March 26. Management was authorized to decide on the price and other terms and conditions of the offering.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Privatization , PSE delisting , san miguel properties philippines inc.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Sign maker to be nailed to cross for 28th time
  • 50 Quezon City cops each carry 30-kg crosses
  • AFP: Abu Sayyaf group, not MILF, target of Basilan operation
  • Massive infra spending set
  • DOJ to NBI: Arrest Cedric Lee, 4 others
  • Sports

  • Federer would skip tennis to be with wife, newborn
  • Manny Pacquiao in PBA? If so, he’ll wear No. 17
  • PSC sets Blu Girls US training
  • Power Pinoys settle for 7th place
  • Successful coaches to get raise
  • Lifestyle

  • Are your favorite malls open this Holy Week break?
  • Celebrate Easter Sunday at Buddha-Bar Manila
  • Moriones feast: A slow, steady transformation
  • Weaving ‘palaspas’ a tradition kept alive in Tayabas City
  • Finalists announced for best translated books
  • Entertainment

  • Why Lucky has not bought an engagement ring for Angel
  • Derek more private with new girlfriend
  • ‘Community’ star happy with return of show’s creator
  • Jealousy is kid stuff
  • Mommy-daughter adventure continues
  • Business

  • PH presses bid to keep rice import controls
  • PSEi continues to gain
  • Number of retrenched workers rose by 42% in ’13
  • PH seen to sustain rise in FDIs
  • Gov’t subsidies to state firms fell in first 2 months
  • Technology

  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Another reason to quit social media this Holy Week: your safety
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • First Fil-Am elected to Sierra Madre, Calif. city council
  • UC Irvine cultural night to dramatize clash of values in immigrant family
  • Filipino sweets and info served at UC Berkeley Spring Fest
  • Milpitas, California kids wrap up a successful run of ‘The Wiz’
  • Netizens welcome Japan’s visa-free travel plan
  • Marketplace