Metro Pacific Investments

Metro Pacific Investments Corporation
Company typePrivately-held Investment company
FoundedMarch 20, 2006; 18 years ago (2006-03-20)
Headquarters
Makati
,
Philippines
Area served
Philippines
Key people
RevenueIncrease PHP50.88 billion (2022)
Increase PHP16.94 billion (2022)
Increase PHP13.14 billion (2022)
Total assetsIncrease PHP643.8 billion (2022)
Total equityIncrease PHP245.04 billion (2022)
OwnerMetro Pacific Holdings, Inc. (48.21%)[2]
GT Capital (20%)
Mit-Pacific (11.32%)
Government Service Insurance System (12%)
MIG Holdings (of Manny V. Pangilinan)(5.74%)
Ramon S. Ang (undisclosed)
ParentFirst Pacific Company
SubsidiariesDMCI – MPIC Water Company
Metro Pacific Tollways Corporation
Neo Oracle Holdings Inc.
Beacon Electric Asset Holdings Inc.
Websitewww.mpic.com.ph

Metro Pacific Investments Corporation (MPIC) is a Philippine unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc.[3] MPIC through its subsidiaries, provides water, sanitation, and sewerage services and also operates in real estate, and infrastructure projects. It also invests in some hospitals in the Philippines.

In May 2016, GT Capital Holdings Inc. acquired 15.6 percent of MPIC, which will, in turn, buy control over GT Capital's Global Business Power Corporation in a deal worth PHP 29.89 billion. GT Capital acquired 3.6 billion new common shares in MPIC at PHP 6.10 per share amounting to a stake of 11.4 percent on an expanded capital base for a total cash consideration of PHP 21.96 billion. It also acquired a further 1.3 billion common shares in MPIC from Metro Pacific Holdings, Inc. (MPHI), a Philippine affiliate of First Pacific Company, at the same price, for a total of PHP 7.93 billion in cash. These transactions result in GT Capital holding an overall stake of 15.6 percent of the common share capital of MPIC in a new business alliance between the two business groups.[4]

In August 2023, the company formally filed for voluntary delisting from the Philippine Stock Exchange (PSE).[5] The company completed its tender offer on September 19, 2023 acquiring 5.46 billion common shares equivalent to 19% of the company and was eventually delisted from the PSE effective October 9. Eight days later on October 17, Ramon S. Ang was elected a member of the company's board of directors after making a direct investment in MPIC. However, the size of Ang's investment was not disclosed.[6][7]

  1. ^ a b "Metro Pacific expects net income to rise 30%". Manila, Philippines: The Philippine Star. Retrieved May 23, 2010.
  2. ^ https://www.mpic.com.ph/wp-content/uploads/2023/09/MPIC-17C-Final-Results-of-the-Tender-Offer-27-Septeber-2023.pdf[bare URL PDF]
  3. ^ Metro Pacific Investments Corporation retrieved May 2, 2013
  4. ^ "Ty family invest P29.89B in MPIC in exchange for control over power unit". Manila Bulletin. Archived from the original on May 30, 2016. Retrieved October 4, 2016.
  5. ^ "Metro Pacific formally files voluntary delisting with PSE". ABS-CBN News. August 9, 2023. Retrieved November 8, 2023.
  6. ^ "Ramon Ang joins Metro Pacific board". Philippine Daily Inquirer. October 24, 2023. Retrieved November 8, 2023.
  7. ^ "SMC's Ang takes a seat in Metro Pacific board". Philippine Star. October 24, 2023. Retrieved November 8, 2023.