Metro Pacific Investments Corp. project listing various units, including its water, tollways and hospitals group from 2026 through 2027 following its delisting from the Philippine Stock Exchange.
MPIC chairman Manuel V. Pangilinan told the gathered shareholders in a special meeting the business may list its tollway operations under Metro Pacific Tollways Corp. by next year at the earliest, and its water concession under Maynilad Water Services Inc. by 2026 or 2027.
“I don’t think there’s any intention to deviate from the course that MPIC has taken in the past few years or so. This will be subject to all the inputs of Mitsui and join the Japan Overseas Investment Fund, which is owned by the Japanese government,” Pangilinan said.
“The tollways will also likely to have to be listed, not for legal reasons, but because of funding reasons. In fact as early as, perhaps, next year. So what will happen is that MPIC will have its major companies in its portfolio listed,” he said.
On Tuesday, MPIC shareholders voted to permit a voluntary delisting of MPIC shares from the PSE, subject to a successful tender process. More than 77 percent of shareholders approved.
A delisting tender offer process will be launched on 9 August to acquire shares from minority shareholders at its best and final price of P5.20 per share.
The tender offer is expected to end 7 September.
Hong Kong-listed First Pacific Co. Ltd.. through its affiliate Metro Pacific Holdings Inc., GT Capital Holdings Inc., a consortium including Japan’s Mitsui and Co. Ltd. and MIG Holdings Inc. led by Pangilinan, seek to delist MPIC and make it a private company.
