Metro Pacific Tollways IPO Being Planned

Metro Pacific Investments Corp. (MPIC) is planning the initial public offerings of Metro Pacific Tollways Corp. by next year and its water joint venture, Maynilad Water Services Inc. by 2027.

Photo Insert: This will be pursued if the conglomerate were to successfully delist from the bourse if a group led by Chairman Manuel V. Pangilinan succeeds in mopping up most of the MPIC shares owned by minority shareholders via a tender offer.

This will be pursued if the conglomerate were to successfully delist from the bourse if a group led by Chairman Manuel V. Pangilinan succeeds in mopping up most of the MPIC shares owned by minority shareholders via a tender offer.

MPIC shareholders approved during a recent special stockholders’ meeting, the firm’s planned voluntary delisting of its shares from the Philippine Stock Exchange (PSE) subject to a successful tender process.

The resolution at the meeting was approved in a vote by all MPIC shareholders by a margin of over 77% supportive to less than one percent unsupportive.

With this approval, a delisting tender offer process was 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.

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