In a recent investor presentation by Hong Kongbased investment holding company First Pacific Co.Ltd., it said MPIC's owners have increased the dividend payout and guided The Manila Electric Co. (Meralco) and Metro Pacific Tollways Corp. (MPTC) to major new investments for growth since the delisting.
"Following MPIC's delisting, the only major equity market access to most MPIC assets is via shares in First Pacific," it said.
MPIC voluntarily delisted from the Philippine Stock Exchange and successfully re-privatized last year.
First Pacific and other investors delisted MPIC at a valuation of $2.96 billion.
First Pacific, led by business titan Manuel V. Pangilinan., holds an economic interest of 46.3 percent in MPIC.
This story is from the September 23, 2024 edition of The Philippine Star.
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This story is from the September 23, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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