The sellers—Keppel Ltd., Keppel Management Ltd., Molten Pte. Ltd., and Kepwealth Inc.—agreed to sell their combined 86.83 percent stake for about P472.7 million, or P1.8526 each.
This is about 29 percent below the stock’s last closing price of P2.62.
The transaction will complete Keppel’s exit from the local bourse following the 2025 delisting of Keppel Philippines Holdings.
Trading suspension
The company did not provide details on Forward Synergy.
Keppel Philippines Properties also requested a voluntary trading suspension of its shares on Feb. 13 to allow equal access to the disclosure.
The group has been reducing its footprint in the Philippines in recent years, including the 2023 sale of its Podium complex stake to BDO Unibank and the 2025 delisting of Keppel Philippines Holdings.
KEP, via its former stake in SM Keppel Land Inc., was a development partner in the Podium Complex in Ortigas.
Keppel Philippines Properties was incorporated in 1918 as Hoa Hin Co., Inc., renamed Cebu Shipyard and Engineering Works, Inc. in 1957, and adopted its current name in 1998.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
