Robinsons Retail Holdings, Inc. (RRHI) has filed a petition with the Philippine Stock Exchange (PSE) for a voluntary delisting of its common shares, targeting an effective date of July 28.
As part of the delisting process, the company is launching an P11.25-billion tender offer through JE Holdings, Inc. to acquire more than 232.84 million common shares, excluding those beneficially held by the proponents, at P48.30 apiece.
As of the filing date of the petition, the proponents collectively held 832.78 million common shares, representing about 78.15% of the company’s total issued and outstanding common shares, the company said in a disclosure on Friday.
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