The Philippine National Construction Corporation has explored leaving the Philippine Stock Exchange, according to a source with direct knowledge of the discussions. Concerns remain about whether the company can be fairly valued before minority shareholders exit. The talks have yet to gain traction as of July 2026.
A confidential source indicated that PNCC has considered a voluntary delisting from the PSE. No official public explanation has been provided, and the source noted ongoing questions about establishing the company's intrinsic value ahead of any exit for minority shareholders.
PNCC's 2024 audited financial statements highlight its holdings, including a 129,548-square-meter property in Pasay City's Financial Center Area. Independent appraisers valued this asset at P51.804 billion in 2023, with the company carrying about P54.5 billion in investment properties at fair value.
The statements also show continuing revenue shares from legacy tollway arrangements. However, the Commission on Audit issued an adverse opinion on the accounts, citing disputes over liabilities involving the Privatization and Management Office that could involve tens of billions of pesos.