SMDC, Highlands Prime to delist on Nov 5
MANILA, Philippines - Henry Sy-led property developers SM Development Corp. and Highlands Prime Inc. are set to delist from the stock exchange on November 5.
The Philippine Stock Exchange (PSE) board of directors approved the petition for voluntary delisting of Highlands Prime and SMDC.
The two companies had filed for voluntary delisting after the SM group, through SM Land, completed a tender offer to minority shareholders of SMDC and HP.
The SM group is consolidating all its property assets in SM Prime Holdings, which will create Southeast Asia's largest real estate firm.