MAKATI CITY—Listed firm Asiabest Group International Inc. said Friday its board has approved the valuation for three companies it plans to acquire, moving forward with its business expansion program in the infrastructure, logistics and mass housing sectors.
The board of ABG approved the valuation ranges for the subsidiaries of Industry Holdings and Development Corp. (IHDC) – Concrete Stone Corp. (CSC) and Industry Movers Corp. (IMC) – and the subsidiary of Premium Lands Corp. (PLC), Kabalayan Housing Corp. (KHC). The total combined minimum valuation for the three companies is P9.9 billion.
The approval precedes planned share issuances to complete the acquisitions.
Under the approved valuations, CSC is valued between P5.3 billion and P8.3 billion, corresponding to 212 million to 332 million shares.
IMC is valued between P3.9 billion and P5.5 billion, or 156 million to 220 million shares. KHC is valued between P800 million and P1.2 billion, or 32 million to 48 million shares.
The board’s approval allows management to finalize the terms and documentation for the transactions and seek necessary approvals from the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE).
“The approved valuations mark a key step toward consolidating new strategic assets under Asiabest Group,” said ABG chairman and president Francis Lloyd Chua in a statement.
“These planned acquisitions reflect the company’s commitment to long-term value creation for the investing public and ABG’s strong position in the infrastructure, logistics, and mass housing sectors,” he said.
The ABG board also approved the company’s audited financial statements for the third quarter of 2025 and set its annual stockholders’ meeting for Feb. 23, 2026.
