Robinsons Retail Holdings, Inc. cleared a critical step toward a voluntary delisting from the Philippine Stock Exchange after its controlling shareholder secured enough tendered shares to surpass the required ownership threshold.
The tender offer resulted in JE Holdings accepting 229.58 million common shares, representing roughly 21.5 % of the retailer’s issued and outstanding capital stock and valued at about P11.09 billion.
This amount exceeds the minimum 179.56 million shares, or 16.85 % of outstanding stock, needed to reach the 95 % ownership level that triggers a voluntary delisting, and the transaction does not require compulsory notification from the competition regulator.
The accepted shares are slated for crossing on the exchange on July 13, with settlement scheduled for July 15.
Following the crossing, JE Holdings, together with members of the Gokongwei family and other delisting proponents, is expected to hold approximately 1.06 billion RRHI shares, or 99.69 % of the company’s capital, reducing the public float to about 0.31 %.
With the public float below one percent, the company will seek the exchange’s approval to complete the voluntary delisting of its common shares.
Before the tender offer, the delisting group collectively owned 832.78 million shares, accounting for roughly 78.15 % of RRHI’s outstanding shares.
JE Holdings offered P48.30 per share, a premium of 23.06 % over the closing price on March 26 and 32.23 % above the one‑year volume‑weighted average price.
The tender period ran from May 25 to July 6 and targeted all shares not already beneficially owned by the Gokongwei group and other delisting proponents as part of the retailer’s privatization plan.
Company leadership expressed gratitude to shareholders for their confidence and support throughout the public listing period and the tender process.
Looking ahead, the retailer plans to close its 11 No Brand standalone stores by the end of June 2026, aligning its store formats with evolving consumer preferences.
For 2026, the firm has allocated between P5 billion and P7 billion for capital expenditures, focusing on store expansion and renovations.
Shares in RRHI fell 2.84 %, or P1.30, to P44.50 each on the day the tender results were disclosed.
