Exec: ATI gearing up for faster growth

ASIAN Terminals Inc. (ATI), the country's second-largest port operator, on Wednesday said it had exceeded the number of shares that it needed to buy to complete its delisting at the Philippine Stock Exchange (PSE).

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State-owned Maharlika Investment Corp. will buy 177.61 million in ATI shares tendered by its owners or 9.16 percent of the company's outstanding shares.

The cross date of the tendered shares will be on March 13, and settlement date will be on March 17.

"On cross date, ATI's public float will fall to 0.74 percent, whilst the total of tendered shares, excluded shares and other non-public shares will be above the voluntary delisting threshold of at least 95 percent," the company said.