DOMINION Holdings Inc. (DHI) on Tuesday said that the price of P1.68 per share in relation to Monte Sur Equity Holdings Inc.’s tender offer for an 11.46 percent stake could increase to P1.69, depending on the closing date of the transaction.
Responding to a query from the Philippine Stock Exchange, Dominion Holdings said the current price of P1.68 was based on the net asset value (NAV) of the company as reflected in its quarterly report for the period ended Sept. 30, 2025.
Based on projected year‑end 2025 numbers, the final tender offer price could rise to an estimated P1.69 per share, depending on when the transaction closes, Dominion said.
BDO Unibank Inc. in January sold 70 percent of its former leasing arm, Dominion Holdings, to Monte Sur in a transaction valued at P2.54 billion, triggering a mandatory tender for all outstanding equity held by remaining shareholders.
Dominion said that the final tender offer price would be announced once the NAV as of the closing date of the transaction “is determined and agreed upon, and will be announced before the cross date.”
Based on a timetable released by Dominion, the tender offer period will run from Feb. 10, 2026, and end on March 11, 2026. Announcement of the final tender offer price would be made on March 6.
The cross date was set for March 12, and settlement is expected on March 13, 2026.
Dominion said that Monte Sur confirmed it had sufficient funds to satisfy full acceptance of the tender offer shares up to an estimated maximum purchase price of P416.24 million.
Monte Sur in January acquired more than 1.5 billion shares in Dominion Holdings from BDO at P1.68 per share. The purchase price was determined based on Dominion’s estimated NAV of P3.42 billion, along with a P200-million premium agreed on by the two parties.
The sale was made as part of BDO’s strategy to streamline its organizational structure.
In 2020, BDO began the transition of its subsidiary, then known as BDO Leasing and Finance Inc., into a holding company. The name change to Dominion Holdings was approved by the Securities and Exchange Commission in July 2022.
Monte Sur is a holding company that is said to invest in various securities and in companies that operate mining projects. It is 60 percent-owned by Philippine company Ashdale Holdings Inc. and 40 percent by British Virgin Islands-based Freeport Investments Ltd.
Dominion Holdings shares on Tuesday slipped P0.15, or 3.45 percent, to close at P4.20 each amid a 1.98 percent rise for the benchmark Philippine Stock Exchange index.