Dominion Holdings shares surge 50% after baring Monte Sur takeover
Shares of Dominion Holdings, Inc. (DHI) surged 50 percent on Friday, reflecting investor reaction to disclosures detailing a change in ownership and the company’s forward plans under a new controlling shareholder.
DHI’s shares jumped to P2.10 apiece, up P0.70 from its previous close of P1.40 on Jan. 19.
In a disclosure on Friday, DHI said that under new ownership, the company will continue operating as a holding company. But it will have a broader portfolio of assets compared to its current investment strategy.
The new controlling shareholder was identified as Monte Sur Equity Holdings, Inc., a Philippine-incorporated holding company that invests in various securities.
Monte Sur holds interests in companies that operate mining projects.
Under the proposed new ownership and board, DHI intends to remain a holding company. Its stated plan is to invest in or acquire shares of mining corporations or companies with mining operations, subject to future disclosures.
The transaction involves the purchase of DHI shares at a consideration equal to the company’s net asset value (NAV) as of the closing date, plus a P200 million premium, allocated in proportion to the shares being acquired.
The company noted that the previously cited approximate purchase price of P1.68 per share was based on DHI’s third-quarter 2025 NAV and remains indicative. The final price will depend on the NAV at closing.
DHI said its core business remains unchanged. The company will continue to hold and own real estate properties, securities or shares of stock and other assets. This, while engaging in investment and business activities related to these holdings.
The transaction is subject to customary conditions, including a mandatory tender offer.
DHI said the indicative timeline for the tender offer is late January to early February. That is, pending regulatory approvals and the release of an independent valuation report.
