Premiumlands Corp. (PLC) said it will be conducting the tender offer for the 33.33 percent publicly-owned shares of Asiabest Group International Inc. between April 14 and May 16, 2025.
This after PLC bought the 66.67 percent stake of Tiger Resort Asia Ltd. (TRAL) in the company in December last year.
The company bought 200 million shares of Asiabest owned by TRAL for P510.4 million or at P2.552 per share.
The publicly-owned Asiabest shares cover 100 million common shares.
PLC is expected to shell out P255.2 million for the tender offer.
Asiabest in a January disclosure said the acquisition is related to PLC’s plan to infuse into the company its infrastructure business, which include PLC unit Kabalayan Housing Corp. and the initial infusion of several land assets across various provinces into Kabalayan for mass housing projects.
