Keppel Philippines eyes voluntary delisting by June 24 – BusinessWorld Online
INVESTMENT company Keppel Philippines Holdings, Inc. (KPH) is targeting voluntary delisting from the Philippine Stock Exchange (PSE) by June 24 after stockholders approved the move.
“The company requests that the voluntary delisting be effected by June 24, 2025,” KPH said in a regulatory filing on Monday.
The voluntary delisting received stockholders’ approval on April 24. The petition for voluntary delisting was submitted to the PSE on April 25.
In February, KPH announced the delisting, with Kepwealth, Inc. intending to make a tender offer for all of the company’s outstanding common shares.
The tender offer, priced at P27.40 per share, will run from April 28 to May 27. The settlement date is on June 10.
Kepwealth currently owns 89.86% of KPH’s total issued and outstanding capital stock. The PSE requires that at least 95% of total issued and outstanding common shares be obtained before delisting.
Incorporated in July 1975, KPH was originally established to carry out ship repair and shipbuilding activities in the Philippines. The company was listed on the Makati and Manila Stock Exchanges in 1987.
KPH transitioned into an investment holding company in 1993.
On Monday, KPH “A” shares rose by 3.36% or 85 centavos to P26.15 per share, while KPH “B” stocks were last traded on April 8 at P25.85 per share. The trading of the company’s shares was temporarily suspended for an hour following the disclosure. — Revin Mikhael D. Ochave
