Metro Pacific Investments Corporation (MPIC) is planning the initial public offerings of Metro Pacific Tollways Corporation by next year and its water joint venture Maynilad Water Services Inc. by 2027.
Metro Pacific Investments Corporation is planning the initial public offerings of Metro Pacific Tollways Corporation by next year and its water joint venture Maynilad Water Services Inc. by 2027.
With this approval, a delisting tender offer process will be launched on Aug. 9, 2023 to acquire shares from minority shareholders at a “best and final” price of 5.20 pesos per share. The delisting tender offer is expected to end on or about Sept. 7, 2023. To comply with the voluntary delisting requirements of the PSE, the common shares to be tendered in the tender offer, together with the common shares owned by the Bidders and the qualifying common shares of MPIC’s directors, should constitute at least 95 percent of the total outstanding common capital stock of MPIC, or such percentage as the PSE may allow, to effect the voluntary delisting of MPIC from the PSE.
On the other hand, the listing of Metro Pacific Tollways Corporation is intended to help the company raise fresh capital as it continues to develop new tollroads.
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