Tender offer price for FPH deemed fair, reasonable inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.
Published December 15, 2020, 4:00 PM
Lopez Holdings Corporation has formally filed a petition for voluntary delisting of its 4.63 billion common shares from the main board of the Philippine Stock Exchange (PSE).
In a disclosure to the Philippine Stock Exchange, the firm said the delisting is conditioned on the public float of the company falling below the 10 percent minimum public ownership (MPO) requirement upon the completion of a Tender Offer for its shares by associate First Philippine Holdings Corporation.
The Lopez Holdings Board of Directors had acknowledged last December 1 the conduct by FPH of a Tender Offer to acquire a minimum of 20 percent and a maximum of 45.56 percent of the total issued and outstanding common shares of Lopez Holdings from all minority shareholders at a price of P3.85 per common share.
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