Infrastructure conglomerate Metro Pacific Investments Corp. said Friday it may consider delisting its shares from the Philippine Stock Exchange amid reports of the possible entry of a new investor.
MPIC said in a disclosure to the stock exchange it was evaluating several options that would benefit its shareholders.
“MPIC discusses several options available to it for the benefit of the company and its stakeholders, and among the options considered is the delisting of MPIC’s shares,” the group said.
It clarified that while delisting as an option was being discussed, “no final decision has been made.”
MPIC issued the disclosure to clarify rumors the Japanese firm Mitsui had expressed interest in acquiring significant shares in the conglomerate.
MPIC confirmed that it received a lot of interest from investors, given its attractive portfolio of assets.
“We consider all offers for the benefit of the company and its shareholders. To date, however, MPIC has not entered into any definitive agreement for an acquisition by any party of a substantial interest in MPIC, and neither is MPIC aware of any definitive agreement entered into by its principal shareholders,” the conglomerate said.
Among the principal shareholders in the company is Indonesian billionaire Anthoni Salim who leads the Hong Kong-based First Pacific Company, the parent company of Metro Pacific. GT Capital Holdings Inc. of the Ty family owns 15.52 percent of the group.
It has investments in power generation and distribution, water utility, tollroads, rail, healthcare, agriculture and real estate sectors. Its subsidiaries include Beacon Electric Asset Holdings Inc. which owns part of Manila Electric Company, Metro Pacific Tollways Corp., Maynilad Water Holding Company Inc. and Metro Pacific Light Rail Corp.
It also has investments and operations outside the Philippines including a 44.9-percent ownership in CII Bridges and Roads Investment Joint Stock Company, a toll road company in Ho Chi Minh City in Vietnam, and 76.3 percent in PT Nusantara Infrastructure Tbk, a listed Indonesian infrastructure company.
The share price of MPIC reached a 52-week high of P4.08 on Wednesday, before closing at P3.95 Friday.
MPIC’s net income climbed 25 percent in the first nine months of 2022 to P11.8 billion from P9.5 billion in the same period in 2021 as consolidated revenues went up to P383.1 billion from P297.9 billion.
The company attributed the strong nine-month growth to the recovery in toll road traffic, growth in power consumption and increase in billed water volumes.