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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