KPH delisted, Philab involuntarily delisted

The Philippine Stock Exchange (PSE) has approved the delisting of Keppel Philippines Holdings Inc. (KPH) with an exit value of P149 million.

On July 8, KPH's shares will be removed from the exchange after a block sale of 5.42 million shares at P27.40 each on June 18, increasing Kepwealth Inc.'s shareholding to 99.34 percent.

This transaction falls below the required 10 percent public ownership threshold, leading to KPH's delisting as the first exit from the local stock market this year.

KPH, listed since 1987 and initially a subsidiary of Singapore-based Keppel Corp., transitioned from ship repair and building activities to an investment holding company with real estate interests.

The PSE's decision marks a significant event in the local bourse, reflecting changes in corporate ownership structures. Additionally, biotechnology firm Philab Holdings Corp. will be involuntarily delisted on July 11 for repeatedly failing to submit required documents.