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MPTC defers IPO to 2025, awaits SMC merger
The Philippine Star
|December 01, 2023
Expressway builder Metro Pacific Tollways Corp. (MPTC) is deferring its plan to make an initial public offering (IPO) in 2025 pending a decision on whether it will be merged with San Miguel Corp.'s (SMC) toll road business.
MPTC was supposed to join the main board of the Philippine Stock Exchange (PSE) following the delisting of its parent Metro Pacific Investments Corp. (MPIC).
However, MPTC president and CEO Rogelio Singson said the plan to list at the PSE has to be deferred until 2025 on the possibility that MPTC would be merged with SMC's expressway arm.
"As far as MPTC is concerned, we were ready to do an IPO after the delisting of MPIC. However, it has to be delayed because we have to find out whether we will merge first (with SMC)," Singson said.
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