SMPI offers to buy minority owners’ holdings
The property unit of San Miguel Corp. has offered to buy out minority shareholders ahead of delisting from the Philippine Stock Exchange at P134.12 per share.
The property unit of San Miguel Corp. has offered to buy out minority shareholders ahead of delisting from the Philippine Stock Exchange at P134.12 per share.
San Miguel Corp. is taking its property unit San Miguel Properties Inc. (SMPI) back into private hands.
With two weeks to go before the ultimate deadline, 19 listed companies are still below the 10-percent minimum public ownership required for continued listing on the Philippine Stock Exchange.
San Miguel Properties Inc., the property arm of San Miguel Corp., is investing roughly P7.7 billion to put up three premier townhouse developments and two high-rise residential projects, reflecting the company’s bullish outlook on the Philippine real estate sector.
