Robinsons Retail Secures 99.69% Ownership, Clears PSE Delisting Threshold by July 6

According to Rappler, JE Holdings Inc., the holding company of the Gokongwei family, secured enough shareholder support by July 6 to meet the 95% ownership threshold required for Robinsons Retail Holdings Incorporated (RRHI) to voluntarily delist from the Philippine Stock Exchange. Shareholders tendered 229.58 million shares at P48.30 apiece during the May 25 to July 6 tender offer period. After settlement on July 15, JE Holdings and co-proponents will collectively own 99.69% of RRHI. The Gokongwei group is taking the retailer private, arguing its stock price no longer reflects the company's true value.
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