Robinsons Retail Holdings Inc. (RRHI) is set to be removed from the Philippine Stock Exchange (PSE) following the Gokongwei family’s successful tender offer to take the company private.
JE Holdings Inc., the family’s acquisition vehicle, has secured around 229.58 million common shares, equal to 21.54 percent of RRHI’s outstanding capital stock. An additional 179.55 million shares — or 16.85 percent — were validly tendered by other shareholders. These shares will be transferred through the PSE trading system on July 13, a move that does not need approval from the Philippine Competition Commission.
Once the transaction is finalized, JE Holdings and related Gokongwei family members will collectively own 1.06 billion shares, representing 99.69 percent of the company. The remaining public ownership will drop to just 0.31 percent. RRHI now awaits formal PSE approval for its voluntary delisting.
Company leaders expressed gratitude to public shareholders. “We are grateful for the trust and support our shareholders have shown RRHI over the years,” said president and CEO Stanley C. Co. “Our commitment to being the retailer of choice in the Philippines remains unchanged as we focus on strengthening operations and sustainable growth.”
Chairman Robina Gokongwei-Pe thanked investors for their long-term partnership, noting their role in the company’s development.
RRHI operates 2,782 company-owned stores nationwide — including food outlets, drugstores, department stores, DIY centers, and specialty shops — plus over 2,100 franchised The Generics Pharmacy branches.
