Privatization is indeed on the cards for Metro Pacific Investments (MPI) whose stock has languished since 2016.
“MPI discusses several options available to it for the benefit of the company and its stakeholders, and among the options considered is the delisting of MPIC’s shares,” said the diversified conglomerate owned by First Pacific group of Indonesian billionaire Anthoni Salim and GT Capital of the Ty family.
“While delisting as an option is being discussed, no final decision has been made,” said MPI.
MPI was reacting to a Bilyonaryo.com report that it has been seriously considering to delist even before Mitsui & Co. of Japan was rumored to be seeking a 20 percent stake in the company.
MPI copy-pasted its previous disclosure declaring “has not entered into any definitive agreement relating to the acquisition of its shares by an investor.”
MPI closed at P3.79 on January 13 or 50 percent off from its peak of P7.49 in July 2016.
MPI, which is trading at roughly 60 percent below its net asset value, also bought back P5 billion worth of shares from February to December 2022 with zero impact on the stock price.
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