The shift comes after the Gokongwei family’s tender offer succeeded in lifting its ownership of Robinsons Retail Holdings Inc. to 99.69 percent, clearing the way for the retailer’s voluntary exit from the Philippine Stock Exchange.
“We are grateful for the trust and support our shareholders have shown RRHI over the years, and for their engagement throughout this process,” said RRHI president and CEO Stanley C. Co.
“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.
JE Holdings Inc. accepted 229.58 million shares worth about P11.1 billion at P48.30 per share, comfortably exceeding the minimum ownership threshold required for the delisting to proceed.
“On behalf of the board and the RRHI management team, I thank our shareholders for their confidence and partnership throughout RRHI’s time as a publicly listed company,” said chair Robina Gokongwei-Pe.
“Your unwavering support has been instrumental in shaping our growth and success, and it has been our privilege to have shared this journey with you,” she added.
Robinsons Retail is one of the country’s largest retail groups, operating Robinsons Supermarket, The Marketplace, Southstar Drug, Handyman, Toys “R” Us, Daiso, Robinsons Appliances, True Value, No Brand and Pet Lovers Centre, among other chains.
—Edited by Miguel R. Camus
