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Richmond Mercurio - The Philippine Star
May 30, 2025 | 12:00am
MANILA, Philippines — Kepwealth Inc. has extended its tender offer for all outstanding common shares of Keppel Philippines Holdings Inc. (KPH) to next month as part of the latter’s voluntary delisting from the Philippine Stock Exchange.
The tender offer of Kepwealth, which owns 89.86 percent of KPH, l was originally scheduled to end on May 27, 2025.
In a stock exchange filing, KPH said that it was advised by Kepwealth of the approval by the Securities and Exchange Commission of its request for an extension of the tender offer period.
The ongoing tender offer has been extended to June 11, 2025.
Kepwealth said it decided to extend the tender offer period to provide minority shareholders additional time to consider tendering their shares, participating in the tender offer, and preparing the necessary documentary requirements.
“Further, this extension will provide the minority shareholders an extended opportunity to exit from KPH because of the intended delisting of KPH, subject to the relevant regulatory approvals,” it said.
As of May 26, 2025, a total of 2.11 million common shares of KPH, equivalent to 3.69 percent of its total issued and outstanding listed shares, have been tendered.
The tender offer at P27.40 per share for all the outstanding common shares of KPH commenced on April 28, 2025.
Kepwealth is prepared to acquire up to 5.81 million common shares of KPH, equivalent to approximately 10.14 percent of its total issued and outstanding capital stock.
KPH earlier said it requested the PSE for its voluntary delisting by June 24, 2025.
Listed in the Makati and Manila Stock Exchanges in 1987, KPH was established as a Keppel Corp. Ltd. of Singapore subsidiary to carry out ship repair and shipbuilding activities in the Philippines.
The company was converted into an investment holding company named Keppel Philippines Holdings Inc. in 1993.
Semiconductor company SFA Semicon Philippines Corp. was the last firm that exited the local bourse, voluntary delisting from the PSE on Dec. 12, ending its 10-year run as a listed company.
