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Eton Properties to relist in 2 to 3 years

Published on 26 October 2012 [ manilatimes.net ]
Written by MADELAINE B. MIRAFLOR

Lucio Tan-led Eton Properties will relist anew in two to three years amid plans to expand its business in the next few years.


Eton Properties Director Michael Tan said in an interview that they will relist two to three years from now, because they foresee strong growth in the future.

“Maybe by then our value will be much bigger,” he said.

Tan added that Eton Properties has delisted voluntarily because relisting in the next few years will be more ideal for the company.

“It is okay to voluntarily delist than to be delisted by the Philippine Stock Exchange [PSE] themselves,” he said.

Tan said that they have voluntarily delisted to give the minority of their shareholders the opportunity to exit and sell their shares.

He, however, said that the market is doing good and so as the economy, and that they will focus more on growing the business of Eton Properties.

Earlier this week, Eton Properties announced its intention to delist from the PSE because of its inability to comply with the minimum public ownership rule of the bourse, which requires listed companies to have at least 10 percent of its corporate ownership coming from the public.
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