Kepwealth Inc. said it has completed the tender offer for all the outstanding shares of Keppel Philippines Holdings Inc. as part of its plan delist the company Philippine Stock Exchange.
After tender offer, Kepwealth said it already owned 56.9 million shares of Keppel Holdings, equivalent to a 99.34 percent ownership.
Kepwealth said the tendered shares transferred to it via a cross sales on the stock exchange on June 18 and will be settled Friday, June 20.
Based on voluntary delisting rules, Kepwealth must file a petition with the PSE at least 60 days before the intended delisting date, along with the tender offer report.
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