Keppel Limited has divested all of its 29.52% stake in Keppel Philippines Holdings (KPHI) to Kepwealth for PHP462.9 million of $10.8 million, according to a bourse filing on Apr 2.
The sale consideration price was arrived at on a willing buyer willing seller basis, taking into account the valuation of the shares in KPHI conducted by an independent valuer.
The market value represented by the sale shares as at Apr 2 was $10.4 million, Keppel notes.
Keppel Philippines Marine Retirement Plan holds an effective interest of 36% in Kepwealth following the divestment. It is a subsidiary of Seatrium Limited.
Keppel says that this divestment is not expected to have any material impact on the net tangible assets per share or earnings per share for the FY2026.
Shares in Keppel closed 4 cents lower or 0.585% down at $6.80 on Apr 2.
