Keppel eyes PSE exit in June

MANILA, Philippines — Keppel Philippines Holdings Inc. (KPH) is targeting to exit the Philippine Stock Exchange (PSE) by June, ending its almost four decades of being a publicly listed firm.

In a stock exchange filing, KPH said that it has requested the PSE for its voluntary delisting on June 24, 2025.

Kepwealth Inc., which owns 89.86 percent of KPH, yesterday commenced a tender offer at P27.40 per share for all the outstanding common shares of KPH.

Kepwealth is conducting the tender offer for the purpose of the voluntary delisting of KPH.

The company 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.

The tender offer will end on May 27.

In the annual stockholders’ meeting of the company last week, KPH stockholders owning at least two-thirds of the total outstanding and listed shares of the company approved the voluntary delisting and no votes were cast by any shareholder against the move.

Listed in the Makati and Manila Stock Exchanges in 1987, KPH was established as a subsidiary of Keppel Corp. Ltd. of Singapore to carry out ship repair and shipbuilding activities in the Philippines.

In 1993, the company was converted into an investment holding company under the name of Keppel Philippines Holdings Inc.

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.