Robinsons Retail Holdings Inc. has moved a step closer to exiting the Philippine Stock Exchange after its controlling shareholder completed the acquisition of shares tendered by minority investors, reducing the company’s public float to well below the exchange’s minimum requirement.
The company said JE Holdings Inc. completed the purchase of shares tendered during its offer conducted from May 25 to July 6 through a block sale on July 13. The transaction covered shares equivalent to 21.54 percent of Robinsons Retail’s outstanding capital stock.
Following the acquisition, JE Holdings increased its ownership in the retailer to 67.65 percent. Together with members of the Gokongwei family and other key shareholders, the group’s combined stake now stands at 99.69 percent of the company’s issued and outstanding shares.
As a result, Robinsons Retail’s public float has shrunk to just 0.31 percent, far below the Philippine Stock Exchange’s minimum public ownership requirement.
The company said it has no plans to restore its public float because it intends to proceed with its voluntary delisting from the local bourse.
The near-complete consolidation of ownership marks the final phase of one of the country’s biggest privatization transactions in the retail sector. Delisting will allow Robinsons Retail to operate as a privately held company, giving its major shareholders greater flexibility to pursue long-term business strategies without the regulatory and reporting requirements imposed on listed firms.
While minority investors who accepted the tender offer have exited the company, the remaining publicly held shares now account for less than one-third of one percent of outstanding stock, effectively placing Robinsons Retail under the near-total control of its principal shareholders.
The move reflects a growing trend among some Philippine-listed firms to return to private ownership as controlling shareholders seek greater strategic flexibility amid evolving market conditions.
