KEPPEL Philippines Properties Inc. (KEP) on Friday said that a mandatory tender offer (MTO) conducted by Forward Synergy Group Inc. resulted in the latter’s acquisition of only a marginal portion of outstanding shares.
In a disclosure, Keppel said it received a certification from the tender offer agent of the results of the mandatory tender offer conducted from March 3 to April 1, 2026.
A total of 109,297 common shares were tendered and accepted at P1.8526 per share, for a total consideration of P202,483.62.
The shares represent 0.04 percent of Keppel’s total outstanding shares.
The tender offer was conducted in compliance with regulatory requirements following Forward Synergy’s acquisition of an 86.83 percent stake in Keppel in February.
First Synergy had sought to purchase 38,695,207 shares representing the remaining 13.17 percent of Keppel that was not under its control.
Keppel Philippines shares slipped P0.02, or 0.73 percent, to close at P2.72 each on Friday.