Shares of Energy Development Corp. (EDC) of the Lopez Group will be delisted from the Philippine Stock Exchange on Thursday.
The PSE said its board approved EDC’s petition for voluntary delisting from the official registry of the exchange effective at the end of business hours on Nov. 29.
The trading of EDC shares is currently suspended due to the company’s failure to comply with the 10-percent minimum public ownership requirement.
EDC on Sept. 19 filed with the PSE a petition for voluntary delisting following the approval by the company’s board of directors and the acquisition, through the conduct of a tender offer, of up to 2.04 billion EDC shares.
EDC on Oct 30 completed the tender offer that saw a total of 2.01 billion common shares bought for P7.25 apiece.
From the Global Geothermal News archives:
- Wednesday, October 31, 2018 - Philippines: Successful Delisting will Support Geothermal Developer's Long-Term Growth
- Wednesday, August 8, 2018 - Philippines: Geothermal Developer to Acquire Remaining Publicly-Held Common Shares
