MVP allots P5B to buy back Metro Pacific shares after skidding to a 4-month low

The board of Metro Pacific Investments Corp. (MPIC) chaired by bilyonaryo Manny V. Pangilinan has approved a P5 billion shares buyback program.

The buyback program will start on February 17 or five months after its previous P5 billion buyback program (from October 2020 to September 2021) was fully utilized.

MPI hopes to improve shareholder value and manifest confidence in the company’s value and prospects with the buyback.

MPI said it would also buy back shares if it deemed its stock as undervalued or highly volatile. MPI is currently trading at its lowest since October 2021.

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