September 2, 2025 | 12:00am
MANILA, Philippines — Reasonably priced housing developer 8990 Holdings Inc. is concentrating on to delist from the Philippine Inventory Alternate (PSE) subsequent month, ending its 15-year run as a publicly listed firm.
8990 has submitted to the PSE a petition for voluntary delisting of its frequent shares which are listed on the principle board of the trade.
The corporate is hoping that the delisting shall be efficient on or round Oct. 29.
8990 Housing Growth Corp. intends to amass, by means of a young supply, as much as 580.57 million or 11.04 p.c of the listed firm’s excellent frequent shares.
The tender supply worth is ready at P10.42, representing a 19.33 p.c premium over the one-year quantity weighted common worth of the corporate’s frequent shares.
The P6.05-billion tender supply will begin on Sept. 2 and finish on Sept. 30.
8990 stockholders representing 89 p.c of the whole excellent frequent shares of the corporate authorised the voluntary delisting throughout its annual stockholders’ assembly final month.
8990 mentioned that no votes have been solid by any shareholder in opposition to the delisting proposal.
The corporate was integrated and registered with the Securities and Alternate Fee (SEC) as IP Converge Information Middle Inc. on July 8, 2005 and was principally engaged within the data know-how and telecommunications enterprise at the moment.
Following a company reorganization in 2012, the corporate ceased working as a knowledge providers supplier and commenced working as a holding firm, with its shares initially listed on the PSE on Oct. 20, 2010.
The SEC authorised the applying for the change of company identify of the corporate to its present identify, 8990 Holdings, in 2013.
8990 is the second listed firm to voluntarily delist this 12 months, with the PSE earlier approving the petition filed by Keppel Philippines Holdings Inc.
The PSE ordered the delisting of the Keppel Philippines’ shares from the official registry of the trade efficient July 8, formally ending its nearly 4 a long time of being a publicly listed agency.
Philab Holdings Corp., in the meantime, was involuntarily delisted by the PSE on July 11, 2025 following persisting violations of the structured reportorial necessities underneath the trade’s guidelines.