Cebu tycoon Frank Sy Gaisano, a second-generation member of the Gaisano retail and investment group, is expanding the family’s footprint into listed property through a takeover of Keppel Philippines Properties Inc. (KEP).
The Lopez family-backed energy giant First Gen Corp. jumped nearly 8 percent on Friday as it confirmed that delisting from the Philippine Stock Exchange is now officially on the table.
The Department of Justice rejected the Beloy siblings’ bid to blame their late father for a multibillion-share scam at Abra Mining & Industrial Corp., recommending criminal charges against executives and stockholders.
The owners of affordable housing developer 8990 Holdings Inc. will begin a P6 billion tender offer on Tuesday as it kicks off the largest Philippine Stock Exchange (PSE) delisting in two years.
Parent firm SFA Korea — which owned 89.98 percent of the listed firm’s shares prior to the tender offer — now owns 99.41 percent of the outstanding shares after public investors representing 9.43-percent ownership sold their stakes back.
Businessman Robert John L. Sobrepeña’s suspended Metro Global Holdings Corp. narrowly avoided being removed from the Philippine Stock Exchange via automatic delisting after its parent firm assigned a block of shares to a third party company.