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MPTC listing set for 2025
Metro Pacific Tollways Corp. (MPTC) has postponed its initial public offering (IPO) until 2025 due to ongoing discussions about a potential joint venture with San Miguel Corp. (SMC).
MPTC's president Rogelio L. Singson stated that the company is ready to list after the delisting of its parent company, Metro Pacific Investments Corp. (MPIC), but the planned SMC joint venture will cause delays.
The decision to delay the IPO hinges on determining whether the merger or the IPO should take precedence.
In August, MPTC and SMC signed a memorandum of agreement to build and operate the Cavite-Batangas Expressway and the Nasugbu-Bauan Expressway.
MPIC chairman Manuel V. Pangilinan had previously announced plans to list both MPTC and its water business following MPIC's delisting from the Philippine Stock Exchange.
San Miguel Corp. holds concessions for several major expressways including SLEX, Skyway, NAIAX, Star Tollway, TPLEX, and MCX.
MPTC's current portfolio includes CALAX, CAVITEX, C5 Link Segment, NLEX, SCTEX, the NLEX Connector Road, and the CCLEX in Cebu.
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