Lucio Tan's LT Group readies PNB Holdings for PSE listing

Lucio Tan III 
LT Group president, COO 

Taipan Lucio Tan’s LT Group is taking a decisive step to unlock value in its property portfolio, pushing its real estate arm closer to a stock market debut.

The conglomerate said it received confirmation on Dec. 26, 2025 that its subsidiary, PNB Holdings Corporation, has filed a registration statement with the Securities and Exchange Commission, a key regulatory milestone ahead of listing.

Listing without an IPO 

The filing sets the stage for a “listing by way of introduction,” which allows PHC’s existing shares to trade publicly without holding an initial public offering.

LT Group, Inc. and PHC said they will provide updates as regulatory clearances are obtained and a formal listing timetable is finalized.

Strategic partners

PHC serves as LT Group’s property vehicle, with a focus on high-end, sustainable luxury developments in prime urban locations.

Its portfolio includes flagship assets such as the PNB Financial Center in Pasay City, the PNB Makati Center, and an 8,000-square-meter site at the corner of Gil Puyat Avenue and Paseo de Roxas in Makati.

"As part of its growth strategy, PHC is actively seeking strategic investors with proven expertise in property development and financial strength to maximize the value and potential of these prime locations,” LT Group said in its annual report. 

—Edited by Miguel R. Camus 

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