8990 Holdings opts to be delisted from PSE

Mass housing developer 8990 Holdings Inc. will be delisted from the Philippine Stock Exchange (PSE) effective Oct. 31, 2025, following the exchange’s approval of its petition for voluntary delisting.

The delisting comes after the company’s subsidiary, 8990 Housing Development Corp., launched a tender offer for all publicly-held common shares at P10.42 per share, representing about a 10-percent premium over the one-year volume-weighted average price.

The company’s shares will be removed from the exchange’s official registry, including its electronic board and ticker, the PSE said in a recent memorandum.

8990 earlier said the decision to take the company private was due to the public market’s failure to fully appreciate the intrinsic value of the company’s business and assets.

“The board noted that the voluntary delisting of the company would unlock the intrinsic value of the company’s business and assets, which does not seem to be fully appreciated by the market, based on the historical trading price of the company’s shares on the PSE,” the company said.

The move by 8990 Holdings comes amid a growing trend of publicly-listed firms in the Philippines opting to go private.

Companies that have recently voluntarily delisted their shares from the PSE include SFA Semicon Philippines Corp. (SSP), Premium Leisure Corp., Keppel Philippines Holdings Inc., Holcim Philippines Inc. and Metro Pacific Investments Corp.

For investors, the delisting means that trading of the company’s shares on the PSE will cease as of the effective date. Investors who did not tender their shares may need to look for private transactions to sell their holdings.

8990 Holdings was listed on the local bourse through backdoor listing after it acquired IP Converge Data Center Inc. in 2012. It develops low-cost mass housing projects, as well as medium-rise building condominiums under the Urban Deca Homes brand, and high-rise building projects under the Urban Deca Towers brand.