Asian Terminals Inc. eyes PSE delisting amid Maharlika’s investment offer

Ports operator Asian Terminals Inc. (ATI) on Tuesday announced its plan to exit from the Philippine Stock Exchange (PSE).

In a disclosure to the local bourse, ATI said its Board of Directors approved its voluntary delisting from the PSE following its receipt of notice from sovereign wealth fund Maharlika Investment Corp. (MIC), which expressed its intent to conduct a tender offer for a portion of its public float shares, including employee-held shares. 

With this, the ports operator said it is set to conduct a special shareholders meeting on Jan. 30, 2026 for the approval of the voluntary delisting by ATI’s stockholders, in accordance with applicable rules and regulations by the Securities and Exchange Commission (SEC) and PSE.

The tender offer, it said, would be set at P36.00 per share.

“Following completion of the tender offer, and subject to the level of tenders received, MIC is expected to hold approximately 11.2% of ATI’s outstanding capital stock,” ATI said.

The company said the move to delist from the PSE “is a strategic step to optimize the company’s structure for long-term growth, enabling faster decision-making, greater investment flexibility, and enhanced operational capabilities.”

It said the move would allow ATI to advance its plans for efficiency, infrastructure modernization, and market development, aligned with its mandate to make trade flow efficiently and sustainably.

Moreover, ATI said the MIC’s tender offer interest reaffirms the company’s strong industry position and reflects independent external confidence in the company’s performance, governance, and critical role in the national logistics and port ecosystem, consistent with the sovereign wealth fund’s mandate to invest in strategic sectors of the Philippine economy.

It added that the delisting process, in compliance with applicable SEC and PSE rules and regulations, “will not affect its day-to-day operations or relationships with employees, customers, and partners.”

“Its services, contracts, and commitments remain unchanged, with ongoing investments focused on capacity expansion, technology adoption, and sustainable market-leading practices. Further announcements will be made in accordance with regulatory timelines,” it added. — JMA, GMA Integrated News