AFTER the anticipated joint venture partnership with Ramon Ang’s San Miguel Corp., the Metro Pacific Tollways Corp. (MPTC) and the toll roads unit of Pangilinan-led Metro Pacific Investments Corp. (MPIC), said that they are delaying their plan to go public.

MPTC president and CEO Rogelio Singon told reporters that the tollways firm was initially set to conduct their initial public offering (IPO) during the third quarter of 2023.

MPIC chairman Manuel V. Pangilinan had said that they will be publicly listing their tollways and water business following its delisting from the Philippine Stock Exchange (PSE).

“As far as MPTC is concerned, we're ready to do an IPO after the delisting of MPIC… but because of this merger it might be delayed,” Singson explained.

“It would be delayed because we have to find out whether we should be merging first or conduct the IPO,” he added.

Pangilinan earlier said that the plans to form a joint venture firm with Ang’s San Miguel —who holds a concession for the South Luzon Expressway (SLEX), Skyway, NAIA Expressway (NAIAX), Star Tollway, Tarlac-Pangasinan-La Union Expressway (TPLEX), and the Muntinlupa-Cavite Expressway (MCX).

Meanwhile, the MPTC currently holds the concession for CALAX as well as the Manila- Cavite Expressway (CAVITEX), C5 Link Segment, the North Luzon Expressway (NLEX), the Subic-Clark Tarlac Expressway (SCTEX), the NLEX Connector Road, and the Cebu-Cordova Link Expressway (CCLEX) in Cebu.