In a recent column, I discussed the tax and non-tax consequences arising from delisting publicly listed companies for non-compliance with the 10 percent minimum public ownership (MPO) rules of the Philippine Stock Exchange (PSE).
Beer-maker San Miguel Brewery has requested to be stricken off the roster of the Philippine Stock Exchange effective May 15 this year.
San Miguel Brewery has requested to be stricken off the roster of the Philippine Stock Exchange, effective May 15.
San Miguel Corp. has firmed up plans to delist crown jewel San Miguel Brewery Inc. from the local stock market and buy back shares at P20 each.
Diversifying conglomerate San Miguel is delisting flagship San Miguel Brewery Inc. from the local stock market and buying back minority shares at P20 per share.
San Miguel Corp. is taking its property unit San Miguel Properties Inc. (SMPI) back into private hands.
MORE listed firms have moved to comply with the Philippine Stock Exchange (PSE) requirement that 10 percent of shares be in the hands of small investors to avoid being delisted from the local bourse.
2GO Group Inc., the country’s largest shipping firm, is redeeming over 4.5 million preferred shares this December in line with plans to delist from the stock exchange.
Eton Properties Philippines sees delisting as the best option for stockholders for now in lieu of selling new shares to meet a 10-percent minimum public float requirement but a stock market comeback may be possible in two to three years, according to officer-in-charge Michael Tan.
Infrastructure holding firm Metro Pacific Investments Corp. is making a tender offer to minority shareholders of tollway unit Metro Pacific Tollways Corp. ahead of its planned stock market delisting. This developed as Eton Properties Philippines Inc., the real estate unit of tycoon Lucio Tan, announced on Tuesday that it was also planning to delist from the Philippine Stock Exchange, saying it could not comply with the 10-percent minimum public float required for continued listing on the bourse.
Infrastructure holding firm Metro Pacific Investments Corp. has decided to delist its tollroad subsidiary Metro Pacific Tollways Corp. from the Philippine Stock Exchange instead of shoring up the latter’s public ownership to the minimum requirement of 10 percent.
The Metrobank group plans to bring its investment house, First Metro Investment Corp., back to private hands and is now preparing an offer to buy out the minority shareholders at P89 per share.
