ATI finalizes exit from PSE, a first in 2026

MANILA, Philippines — Asian Terminals Inc. (ATI) is set to formally exit the Philippine Stock Exchange (PSE) on April 3.

This marks the first delisting from the local bourse in 2026 as the port operator ushers in what it described as a “new chapter” under a restructured ownership.

In a statement on Thursday, ATI said the completion of its delisting process signals a “significant milestone” in its shareholder transition. This follows the entry of the state-run Maharlika Investment Corp. (MIC) as investor.

READ: ATI eyes April 3 exit from PSE

“With MIC’s participation, ATI is poised to embark on a new chapter of sustained growth as it further expands its role in facilitating efficient and sustainable trade,” the company said.

It added that its operations across ports and terminals will continue as normal.

ATI said it had received the PSE’s approval for voluntary delisting, with trading of its shares already suspended as part of the process.

The company’s shares will be officially removed from the bourse’s registry on April 3.

Ownership limits

This delisting follows the completion of a tender offer that ATI and MIC—the country’s sovereign wealth fund manager—jointly conducted. That pushed their combined ownership beyond the threshold required for an exit from the stock market.

As a result, ATI and MIC now collectively hold at least 95 percent of the company’s outstanding shares. This meets the minimum ownership requirement for voluntary delisting under PSE rules.

READ: How’s Maharlika doing? Senate probe pushed 

Also, the increase in ownership has reduced ATI’s public float below the level required for listed firms.

Earlier disclosures showed that ATI and MIC had acquired 177.61 million shares through the tender offer. Those are equivalent to about 9.16 percent of the company’s outstanding shares, priced at P36 apiece.

Following the transaction, the two firms’ combined stake rose to 99.29 percent, effectively consolidating control of the company ahead of its planned delisting.

ATI is one of the country’s leading port and terminal operators. Its transition into a privately owned firm comes as it marks 40 years of operations.

Last year, the PSE recorded three delistings and two new listings. Keppel Philippines Holdings Inc. and 8990 Holdings Inc. exited voluntarily. INQ