Trading of shares of mass housing developer 8990 Holdings Inc. was suspended at the stock exchange on Tuesday morning following the conclusion of its tender offer, paving the way for the third delisting in 2025.
In a notice, the Philippine Stock Exchange (PSE) said the trading suspension was implemented at 9:02 a.m. on Oct. 7, as the public ownership of 8990 Holdings had already gone below the minimum public ownership requirement.
The tender offer of its shares was conducted from Sept. 2 to Sept. 30.
The shares were transferred from the minority shareholders to 8990 Housing Development Corp., its subsidiary that conducted the offer.
The company is set to make its P6-billion exit from the local bourse on Oct. 29. It will be the third company to go private again this year, following Keppel Philippines Holdings Inc. and Philab Holdings Corp.