A significant shift is underway for Asian Terminals, Inc. (ATI) as the company nears its planned departure from the stock exchange, fueled by a successful tender offer to minority shareholders.
Preliminary results reveal a substantial response, with 177.61 million common shares – representing 9.16% of all outstanding stock – tendered by shareholders eager to participate in the buyout.
This influx, combined with previously excluded and non-public shares, pushes total ownership beyond the critical 95% threshold required for voluntary delisting, effectively paving the way for a complete ownership change.
The formal transfer of tendered shares is slated for March 13th, with final settlement occurring on March 17th, marking a pivotal moment in the company’s history.
Following the transfer, ATI’s public float will dwindle to a mere 0.74%, solidifying the control of the bidding entities and triggering the delisting process as outlined by the Philippine Stock Exchange.
Trading of ATI shares is anticipated to halt on March 13, 2026, culminating in a full exit from the exchange on April 3rd, pending final approvals and regulatory clearances.
The acquisition, spearheaded by Maharlika Investment Corp. (MIC) and ATI itself, aims to secure up to 191.44 million shares at a price of P36 each, achieving full ownership of the company’s capital stock.
This offer represents a compelling 49% premium over the average trading price of P24.15 over the past year, incentivizing shareholders to tender their holdings.
The move follows MIC’s December announcement of its intent to acquire a minority stake in ATI, strategically positioning itself within a vital national trade infrastructure.
Despite the impending delisting, ATI shares remained stable on the exchange, closing at P35 apiece, reflecting investor confidence in the ongoing transaction.
