The Philippine Stock Exchange (PSE) has approved the voluntary delisting of Robinsons Retail Holdings Inc. (RRHI), officially scheduling the removal of the retail giant’s shares from the local exchange on August 31.
Transactions for RRHI have been frozen since July 14, following a tender offer by the Gokongwei family’s JE Holdings, Inc. that reduced the company’s public float to a mere 0.31%—significantly beneath the bourse’s 20% minimum public ownership requirement. The buyout was launched by the Gokongwei group to provide minority shareholders a way to liquidate their positions ahead of the planned exit.
Due to the trading freeze, remaining retail investors are unable to execute trades through the exchange.
Following the official delisting, stockholders may still transact outside the stock market, though they must independently locate buyers for private sales.
Furthermore, private off-exchange transactions forfeit the tax advantages granted to publicly traded equities. Sellers will face elevated capital gains taxes and documentary stamp taxes—replacing the standard stock transaction tax—alongside a more demanding administrative process.
RRHI initially made public JE Holdings’ Tender Offer Report on March 27, executing the offer window between May 25 and July 6.
The company reported the ultimate results on July 7, followed by the crossing of tendered shares through a block transaction on the PSE on July 13.