Port operator Asian Terminals Inc. (ATI) is initiating a voluntary delisting from the Philippine Stock Exchange after Maharlika Investment Corp. (MIC), which manages the country’s sovereign wealth fund, expressed interest in acquiring a minority stake in the company.
ATI’s board approved steps toward delisting and the tender offer, setting the price at P36 per share, a move supported by an independent fairness opinion.
The delisting is expected to give ATI greater investment flexibility and operational agility as it expands its logistics and ports business.
MIC expressed its intention to conduct a tender offer for a portion of the company’s public float, including shares held by employees. Upon completion of the tender offer, and depending on the number of shares tendered, MIC is expected to own about 11.2 percent of ATI’s outstanding shares.
The company’s board, led by owner Eusebio Tanco, also expanded ATI’s existing buyback program to acquire remaining public and employee-held shares through the same tender offer.
ATI said the offer provides public shareholders with a regulated mechanism to realize the value of their holdings while ensuring compliance with regulatory requirements.
ATI scheduled a special shareholders’ meeting on Jan. 30, 2026 to seek stockholder approval for the voluntary delisting.
The planned delisting will still be subject to compliance with rules of the Securities and Exchange Commission and the stock exchange.
 is pursuing a voluntary delisting from the Philippine Stock Exchange after the sovereign wealth fund, Maharlika Investment Corp. (MIC), expressed interest in acquiring an 11.2 percent minority stake via a P36 per share tender offer.){kind=link}