Read this in The Manila Times digital edition.
ROBINSONS Retail Holdings, Inc. (RRHI) has moved closer to its planned voluntary delisting from the Philippine Stock Exchange (PSE) following the successful tender offer of controlling shareholder JE Holdings, Inc., the private investment vehicle of the Gokongwei family.
The tender offer was conducted from May 25 to July 6, during which JE Holdings accepted 229.58 million common shares tendered by shareholders, representing 21.54 percent of the company’s issued and outstanding capital stock.
In a disclosure on Tuesday, Robinsons Retail said the accepted shares exceeded the minimum requirement of 179.56 million common shares needed for the delisting proponents to acquire at least a 95 percent interest in the company.
“Given the successful results of the tender offer and the Philippine Competition Commission’s confirmation that the transaction is not subject to compulsory notification, the tendered shares are expected to be crossed on the facilities of the Philippine Stock Exchange (PSE) on July 13, 2026, with settlement on July 15, 2026,” the company said.
Upon completion of the transaction, JE Holdings and the other voluntary delisting proponents will collectively own 1.062 billion Robinsons Retail common shares, equivalent to 99.69 percent of the company’s issued and outstanding capital stock, effectively reducing the company’s public float to 0.31 percent.
“The next step in the process is to obtain the approval of the PSE for the voluntary delisting of the company’s common shares,” Robinsons Retail said.
“We are grateful for the trust and support our shareholders have shown RRHI over the years, and for their engagement throughout this process,” Robinsons Retail President and CEO Stanley Co said.
“While we embark on a new chapter, our commitment to being the retailer of choice in the Philippines is unchanged. As we look ahead, we remain focused on strengthening our operations, pursuing long-term priorities, and driving sustainable growth,” he added.
The company announced earlier this year that it would pursue a voluntary delisting, with JE Holdings launching a tender offer to provide minority shareholders an opportunity to sell their shares as part of the process.
Robinsons Retail Holdings was founded by the late entrepreneur John Gokongwei Jr. in 1980. Since then, the company has evolved into one of the largest multi-format retailers in the Philippines today.
Shares of the company dropped P1.30, or 2.84 percent, to close at P44.50 each on Tuesday amid a 0.34-percent uptick for the benchmark PSE index.