RRHI repurchases P15.77B worth of shares priced at P50 each

Robinsons Retail Holdings Inc. (RRHI) has repurchased P15.77 billion worth of its shares from DFI Retail Group, reflecting confidence in long-term growth prospects despite volatile market conditions.

The company reacquired 315.31 million common shares priced at P50 each, representing a 22.2 percent stake and a 31.75 percent premium over RRHI's Friday share price of P37.95.

RRHI stated that the repurchase reflects its belief in the company's financial strength and long-term growth prospects not being fully reflected in current market prices, with share prices rising by 5 percent year-to-date.

In 2018, DFI acquired an initial 18.25 percent stake in RRHI after a share swap deal involving Rustan Supercenters Inc., and two years later, RRHI completed the acquisition of Rose Pharmacy from DFI, expanding its drugstore footprint in Visayas and Mindanao.

As a result, DFI increased its stake to 22.2 percent following these transactions.