Philippine-based outsourcing company Asiatel Outsourcing Inc. has begun trading on Canada’s TSX Venture Exchange as it seeks to expand in North America and move into higher-value knowledge process outsourcing services.
The company described itself as the first Philippine-founded outsourcing firm to list on the Canadian stock exchange.
Asiatel entered the public market through the TSXV’s Capital Pool Company structure, a mechanism that allows a private company to list through a transaction with an existing capital pool company.
The company said the listing would give it access to capital for acquisitions and expansion, initially in the Philippines and Southeast Asia and eventually in Latin America and Eastern Europe. It also plans to use its public-company status to pursue larger corporate clients.
“Canada has been part of our growth plan for a while now, and this listing is the next step in that, not a new direction,” Asiatel chairman Shafi Aboobaker said in a statement.
“It gives us a public presence in North America and a stronger position with the clients and partners we want to work with here.”
Asiatel reported audited consolidated revenue of CAD8.3 million for 2025, up from CAD4.6 million in 2024 and CAD2.6 million in 2023. Its investor presentation said the company remained profitable and had not taken on external debt.
The company employs more than 500 workers in the Philippines and handles over 20 client programs across eight countries. Its services include business process outsourcing, employer-of-record arrangements, remote staffing, seat leasing, accounting, design, web development, and digital marketing.
Employer-of-record services accounted for 62% of revenue in 2025, up from 42% a year earlier. Asiatel acknowledged that the service helped drive revenue growth but carried lower margins because employee salaries are passed through to clients.
The company plans to add as many as 250 delivery seats in Metro Manila and expand into engineering support, environmental, social and governance compliance, accounting, software-as-a-service deployment, and AI-assisted services.
Asiatel chief executive officer Jasjit Singh Anand said the company was seeking to shift from routine execution work toward knowledge-based services while using AI to improve its internal operations and develop new revenue streams.
“The BPO market is not disappearing. It’s upgrading itself,” Anand said, adding that demand for traditional outsourcing services remained strong among startups and small and medium-sized enterprises.
Asiatel is also considering acquisitions of companies that would add capabilities it does not currently offer. Anand said potential targets could be located in the Philippines, the wider Southeast Asian region, Eastern Europe, or South America, although no acquisition discussions have started.
“This listing gives us a public vehicle to grow the business the way we always have, without leverage and with a clear plan for where the next stage of growth comes from. We look forward to building brand awareness and engaging with investors in North America,” Anand said.
Asiatel has engaged Integral Wealth Securities Ltd. to provide market support services for CAD 6,000 a month. It also appointed North Star Investor Relations Inc. under a one-year agreement carrying monthly fees and options to acquire 250,000 shares at CAD 0.20 each, subject to TSXV approval.
