ATI tender offer completed ahead of PSE exit

MANILA, Philippines — Tanco-led port operator Asian Terminals Inc. (ATI) has moved closer to its exit from the Philippine Stock Exchange after completing a tender offer to minority shareholders.

The exercise raised the ownership of ATI’s controlling shareholders beyond the threshold required for delisting from the local bourse.

In a disclosure on Wednesday, ATI said a total of 177.61 million common shares had been tendered at the end of the offer on March 3. This number is equivalent to 9.16 percent of the company’s total issued and outstanding shares.

The shares were priced at P36 per share, covering up to 191.44 million shares.

Of the total tendered shares, ATI acquired 76.42 million, while the Maharlika Investment Corp. (MIC) secured 101.19 million.

READ: Maharlika to invest in ATI; South Harbor port operator to delist

Combined with other non-public holdings, ATI and MIC now account for 99.29 percent of the company’s issued and outstanding common shares, exceeding the 95-percent threshold required for a voluntary delisting.

ATI is scheduled to exit the PSE on April 3, marking what would be the first stock market delisting in 2026. /dda

READ: ATI eyes April 3 exit from PSE