First Metro Investments to delist from PSE

Following a decision of its board of directors to operate as a non-listed entity, First Metro Investments Corp. on Monday said it intends to delist its shares from the Philippine Stock Exchange.   “With 1.94 percent of outstanding shares held by the public, the company foresees no effect in its business operations,” First Metro Investments said in a statement release by the PSE.   “… [O]utstanding shares held by the public will be purchased via a tender offer,” the company said, noting, “In a recent meeting held by FMIC’s board of directors, it has been decided that FMIC will purchase the said shares as treasury shares.   The tended offer – at P89 per shares – will be from Oct. 22 to Nov. 29, 2012.   First Metro Investments is 98.06-percent owned by parent Metropolitan Bank & Trust Co. — VS, GMA News