8990 Holdings targets Oct. 28 for voluntary PSE delisting

REAL ESTATE DEVELOPER 8990 Holdings, Inc. has filed a petition with the Philippine Stock Exchange (PSE) for a voluntary delisting of its common shares, targeting an effective date of Oct. 28.

“Subject to compliance with the PSE’s Amended Voluntary Delisting Rules, the voluntary delisting is expected to be effective by 28 October 2025,” the company said in a disclosure on Monday.

Prior to the delisting, shareholders were offered the option to tender their shares at a cash premium.

As part of the delisting process, 8990 Holdings’ subsidiary 8990 Housing Development Corp. will acquire minority shareholders’ stakes through a tender offer at P10.42 per share, running from Sept. 2 to 30.

“The bidder intends to acquire the tender offer shares, consisting of up to 580,570,390 common shares in the company,” the disclosure said.

The tender offer follows the PSE’s voluntary delisting rules, under which the bidder aims to acquire at least 95% of the company’s shares to complete the delisting.

Following the voluntary delisting, share transfers will require a certificate authorizing registration from the Bureau of Internal Revenue before legal title can be transferred.

8990 Holdings is engaged in property development through the brands Deca Homes, Deca Towers, and Urban Deca Towers. Its portfolio includes low-cost mass housing units and subdivision lots, as well as medium-rise and high-rise housing units. The company is also engaged in hotel operations.

On Monday, 8990 Holdings shares rose 1.57% to P10.36 apiece. — Alexandria Grace C. Magno