GSIS Will Not Block MPIC Tender Offer And Delisting

The Government Service Insurance System (GSIS) assured that it will not stand in the way of the planned voluntary delisting of Metro Pacific Investments Corporation as it intends to remain a shareholder of the conglomerate even if it is delisted.

Pursuant to the Rule on Minimum Public Ownership, GSIS' shares in MPIC are now considered as non-public shares. I Photo: PLDT Facebook

In a disclosure, MPIC said it was furnished a copy from the GSIS to the Philippine Stock Exchange where the pension fund stated that it understands that since it owns more than 10 percent of the outstanding common shares of MPIC, pursuant to the Rule on Minimum Public Ownership, its shares in MPIC are now considered as non-public shares.

The GSIS also said that it is aware that a Petition for Voluntary Delisting of MPIC has been filed with the PSE and that it intends to remain a shareholder of MPIC after the completion of the voluntary delisting.

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