Asian Terminals Inc. (ATI) shareholders today, January 30, 2026, voted in favor of the port and terminals operator’s voluntary delisting from the Philippines Stock Exchange’s main board, paving the way for the entry of Maharlika Investment Corporation (MIC) – the government’s sovereign wealth fund manager – to buy into the minority public float of ATI.
In a disclosure to the PSE, the ATI said its shareholders representing 90.34%, or more than two-thirds of the firm’s total outstanding and listed shares.
This follows the earlier approval by ATI’s Board of Directors in December 2025 initiating the voluntary delisting process from the local bourse to enable ATI greater investment flexibility and enhance operational agility in support of the country’s evolving logistics and supply-chain requirements.
The strategic move was also triggered by the Board’s receipt of intent for tender offer from the Maharlika Investment Corporation (MIC) – the government’s sovereign wealth fund manager – to buy into the minority public float of ATI, aligned with its long-term goal of generating sustainable wealth to spur national economic growth.
This reinforces ATI’s pivotal role in enabling faster and smarter trade, leveraging its four decades of operational depth and financial strength with MIC’s mandate to catalyze inclusive and sustainable economic growth through high-impact investments in strategic sectors for national progress.
Following the approval, a tender offer process will be launched by MIC and ATI to acquire shares from ATI’s public float shareholders at a tender offer price of PHP36 per share equivalent to 11.2 percent stake. This exercise affords ATI’s public float shareholders a clear and regulated mechanism to unlock the value of their holdings as the firm transitions to a private ownership structure.
The best price offer of PHP36 per share represents a premium of 49 percent over the one-year volume weighted average price of PHP24.15, based on the fairness opinion rendered by independent fairness valuator MBI Capital Corporation, a highly reputable financial advisor with over five decades of proven track record and accredited by the PSE.
In related developments, shareholders during the same meeting approved the amendment of ATI’s Articles of Incorporation, specifically increasing its Board of Directors seats from eight to nine. MIC president and CEO Rafael Consing Jr. was conditionally elected by the shareholders as the new ATI board member, subject to completion of stipulations related to the tender offer process.
Consistent with PSE rules, ATI is expected to be delisted 60 days upon filing of the petition for voluntary delisting. ATI remains business as usual, reiterating that the delisting process has no impact on 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 operations – actively supporting the growth of the Philippine economy, this time as a privately held company.
